Baidu (HK:9888) (NASDAQ:BIDU) reported mixed results for the second quarter of fiscal 2025, beating profit expectations while revenue missed analysts’ estimates.
The company’s shares fell more than 3% Wednesday.
The Chinese tech giant posted earnings per share (EPS) of RMB13.58, topping consensus estimates of RMB13.33.
Revenue for the three-month period fell 4% year-over-year to RMB32.71 billion, slightly below the consensus of RMB32.92 billion.
Baidu Core contributed RMB26.3 billion ($3.66 billion), down 2% from a year earlier.
Online marketing revenue fell 15% to RMB16.2 billion ($2.27 billion), while non-online marketing revenue rose 34% to RMB10.0 billion ($1.40 billion), supported by growth in the AI Cloud business.
Revenue at iQIYI came in at RMB6.6 billion ($926 million), marking an 11% year-on-year decline.
"In the second quarter, our AI Cloud business continued to deliver robust and healthy revenue growth, supported by our strengthening full-stack AI capabilities and comprehensive end-to-end AI products and solutions," said Robin Li, co-founder and CEO of Baidu.
"We remain focused on AI initiatives that offer the greatest long-term value creation potential, where our technology and innovation can make the most meaningful and lasting impact," he added.
Baidu’s adjusted EBITDA in Q2 totaled RMB6.5 billion ($906 million), with a margin of 20%.
Source :
https://www.investing.com/news/earnings/baidu-misses-revenue-estimates-on-online-marketing-weakness-ai-cloud-offsets-4201468
