Baidu Inc. reported on Wednesday its third-quarter revenue was unchanged annually to amount to $3.93 billion. Operating income was $329 million, decreasing 47% year over year, and operating margin was 8%, compared to 16% for the third quarter of 2018.

Net loss attributable to Baidu was $892 million and diluted loss per share per ADS was $2.57.

"Baidu delivered a solid third quarter with total revenues reaching $4 billion, up 7% sequentially on top of the 9% sequential growth from the prior quarter, in spite of the softening macro-environment, industry-specific policy changes and self-directed healthcare initiative," Chairman and CEO of Baidu. Robin Li stated.