Baidu reports $4.8B in Q2 revenue, up 20% YoY and beating estimates, and $90M net loss after writing down shares in Kuaishou, which sank 28% across the quarter (Zheping Huang/Bloomberg)

Zheping Huang / Bloomberg:
Baidu reports $4.8B in Q2 revenue, up 20% YoY and beating estimates, and $90M net loss after writing down shares in Kuaishou, which sank 28% across the quarter  —  – Search giant swung to a loss after marking down Kuaishou stake  — Shares of Baidu fell in pre-market trading in New York