Baidu Announces Second Quarter 2026 Results

Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the second quarter ended June 30, 2026. "With AI-powered Business now firmly established as the core of Baidu, we are strengthening the foundations for our next phase of AI-driven growth. AI Cloud Infra sustained strong momentum this quarter, with GPU Cloud [1] growth accelerating further off an already high base. Our AI Applications portfolio also continued to flourish, with stronger capabilities and increasingly diverse use cases. Apollo Go made steady progress with its global expansion, while further strengthening its safety and operational capabilities and enhancing the rider experience," said Robin Li, Co-founder and CEO of Baidu. "While our online marketing business remains under pressure, the growing momentum in our core AI-powered Business reaffirms Baidu's transition from an internet-centric company to an AI-first company, and strengthens our confidence in our long-term growth potential." "The quarter was marked by several highlights. First, revenue from Baidu Core AI-powered Business [2] reached RMB 12.5 billion and continued to account for half of Baidu General Business revenue. Second, operating cash flow for Baidu remained positive for the fourth consecutive quarter, reaching RMB 3.4 billion in the second quarter. Third, we are moving forward with our conversion to a dual-primary listing in Hong Kong and expect it to become effective within this year." said Haijian He, CFO of Baidu. "Going forward, we remain firmly committed to investing in AI as the core driver of Baidu's long-term growth." Operational Highlights [ 2] Corporate In July 2026, following the Board's approval of a motion to pursue a voluntary conversion to a dual-primary listing (the "Primary Conversion"), Baidu submitted its application for the Primary Conversion and received the Hong Kong Stock Exchange's acknowledgement of the application. The Company will convene an extraordinary general meeting of shareholders on August 26, 2026 prior to the Primary Conversion to seek shareholder approval for related matters. The Primary Conversion is expected to become effective within this year, subject to the shareholder approval and the approval of the Hong Kong Stock Exchange. At the 2026 AI for Good Global Summit, three Baidu AI use cases—Apollo Go, Miaoda & MeDo, and PaddlePaddle—were recognized as winning cases and featured in the Innovate for Impact Report. According to MSCI's March 2026 ESG rating update, Baidu maintained its "AA" rating and continued to demonstrate industry-leading ESG performance. Baidu has returned US$259 million to shareholders since the beginning of Q1 2026 through repurchases of its shares under the current share repurchase program. Baidu Core AI-powered Business AI Cloud Infra Revenue from AI Cloud Infra was RMB 7.3 billion in the second quarter of 2026, up 50% year over year. Within AI Cloud Infra, revenue from GPU Cloud [3] increased by 283% year over year in the second quarter of 2026, further accelerating from 184% growth in the previous quarter. AI Applications Revenue from AI Applications was RMB 2.5 billion in the second quarter of 2026, up 3% year over year. Baidu launched an enterprise edition of DuMate, its general-purpose agent for everyday productivity, in June 2026. Baidu Wenku and Baidu Drive continued to strengthen their AI-powered features, expanding new capabilities and enhancing existing ones, including through upgrades to GenFlow. In June 2026, AI DAU penetration across Baidu Wenku and Baidu Drive increased by 27.4% year over year, reflecting broader adoption of their AI-powered features. Robotaxi Apollo Go continued to advance its global expansion. In London , Apollo Go began open-road testing in partnership with Uber and Lyft. In Dubai , Apollo Go launched f...