BUZZ-Baidu's US-listed shares fall on Q4 ad business slowdown

Chinese search-engine provider Baidu's BIDU.O U.S.-listed shares drop 6.9% to $90.83 in morning trading

Excluding its streaming service iQIYI, Baidu's online marketing business, which contributes a major part to its revenue, was down 7% from a year earlier to 17.9 bln yuan ($2.46 billion) in Q4

Revenue of 34.12 bln yuan ($4.69 bln) beat analysts' average estimate of 33.32 bln yuan, according to data compiled by LSEG

"Our AI Cloud business demonstrated robust momentum with fourth-quarter revenue growth accelerating to 26% year-over-year, offsetting the softness in online marketing business," says Junjie He, interim CFO of Baidu

Up to last close, BIDU down ~6% in the past 12 months

($1 = 7.2794 Chinese yuan renminbi)