Baidu reported second-quarter revenue of RMB31.3 billion, missing analyst expectations of RMB31.96 billion and showing a 2% decline from the previous quarter. Non-GAAP earnings per ADS were RMB7.22, below the forecasted RMB9.92, and net income was RMB2.3 billion, short of the estimated RMB3.42 billion. Despite these misses, adjusted EBITDA of RMB6.2 billion exceeded estimates. Baidu's core business revenue fell 4% year-over-year, while AI Cloud infrastructure revenue grew 50% to RMB7.3 billion. The streaming platform iQIYI saw a slight 1% revenue increase quarter-over-quarter. The results highlight challenges in Baidu's core operations but growth potential in AI Cloud services.
Baidu announced that its Class A ordinary shares listed on the Hong Kong Stock Exchange will be included in the Shanghai-Hong Kong Stock Connect program starting September 7, 2026. This inclusion allows eligible mainland Chinese investors to directly...
Pomerantz LLP is investigating Baidu for potential securities fraud following a Pentagon report linking the company to the Chinese military and disappointing earnings results. Baidu's shares fell after the Pentagon named it among companies aiding the...
