Kuaishou And Baidu Beat Estimates In Q2

Baidu Q2 Earnings Overview

Search engine, AI, and autonomous vehicle company Baidu beat analyst estimates in its Q2 results, reported overnight. On the call, founder and CEO Robin Lie attributed the company’s positive results to, you guessed it, strong advertising (online marketing business), which led to a strong increase in top line revenue and bottom-line net income versus one year ago. Baidu’s monthly active users (MAUs) were up +8% year-over-year (YoY). Meanwhile, Baidu was also ranked the No. 1 Cloud Data Provider in China by IDC. The company’s Apollo Go ride hailing program completed 714,000 rides in Q2, more than double the amount of rides completed in Q2 2022.

Non-GAAP (Adjusted)