BIDU-SW (09888) released its second-quarter results, with a net profit attributable to Baidu of 2.319 billion yuan. The intelligent cloud infrastructure maintains strong momentum.

BIDU-SW (09888) released its second quarter results for the period ending June 30, 2026, reporting revenue of RMB 31.325 billion, a year-on-year decrease of 4.24%; net profit attributable to Baidu was RMB 2.319 billion, down 68.33% year-on-year; basic earnings per American Depositary Share were RMB 6.08. With AI new business firmly established as Baidu's core business, we are further solidifying the foundation to prepare for the next stage of AI-driven growth. In this quarter, our intelligent cloud infrastructure maintained strong momentum, and GPU cloud business growth accelerated further from a high base. Our AI application product portfolio continues to thrive, becoming more powerful with increasingly diverse application scenarios. Luobo Kuaipao is making steady progress in global expansion, while further enhancing safety and operational capabilities, and improving passenger experience, said Baidu co-founder and CEO Robin Li. Although our online marketing business still faces pressure, the growth momentum of our core AI new business further confirms Baidu's transformation from an internet-centric company to an AI-first company, and enhances our confidence in long-term growth potential. There are several key points this quarter. First, revenue from Baidu's core AI new business reached RMB 12.5 billion and continues to account for half of Baidus general business revenue. Secondly, Baidu's operating cash flow has remained positive for the fourth consecutive quarter, reaching RMB 3.4 billion in the second quarter. Third, we are advancing the dual primary listing transition in Hong Kong and expect it to take effect within this year, said Baidu CFO He Haijian. Looking ahead, we will steadfastly continue to invest in AI, making it the core driving force for Baidu's long-term growth.