Baidu, Inc. Earnings Recaps
Q1 2026
May 19, 2026
Baidu’s stock inched up 0.7% following Q1 earnings, reflecting a broadly in-line performance with steady revenue growth but no clear catalyst to materially move shares.
Key takeaways
- Total Q1 revenue grew 2% year-over-year to RMB 26.0 billion, marking a return to positive growth.
- AI-powered business revenue surged 49% year-over-year, surpassing half of total revenue at 52%.
- AI Cloud Infrastructure revenue rose 79% year-over-year, with GPU Cloud accelerating to 184% growth, highlighting strong demand for GPU-based AI workloads.
- Autonomous driving segment Apollo Go maintained triple-digit growth with 3.2 million fully driverless rides delivered in the quarter.
- The company emphasized technological advantages in AI chips (Kunlunxin) and expanded model offerings, supporting a steady but cautious outlook on AI-driven growth momentum.
Q3 2025
Nov 19, 2025
Baidu reported strong Q3 2025 results with total revenue of RMB 24.7 billion, driven by a 21% increase in AI Cloud revenue and substantial growth in autonomous driving operations.
Key takeaways
- AI Cloud revenue surged to RMB 6.2 billion, benefiting from a 128% year-over-year increase in subscription-based revenue.
- The Apollo Go autonomous driving service delivered over 3 million fully driverless rides, achieving 212% growth year-over-year.
- The launch of ERNIE 5.0, a new foundation model, underscores Baidu's ongoing innovation in AI technology, enhancing business efficiency and user experiences.
- Baidu's AI applications now engage approximately 300 million monthly active users, demonstrating strong traction in personal productivity solutions.
Q2 2025
Aug 20, 2025
Baidu reported a robust Q2 2025, with overall revenue reaching RMB 26.3 billion and significant growth in its AI-focused segments, notably the AI cloud and non-online marketing revenues.
Key takeaways
- Baidu Core's non-online marketing revenue surpassed RMB 10 billion for the first time, reflecting a 34% year-over-year increase.
- AI Cloud revenue grew 27% year-over-year to RMB 6.5 billion, driven by advancements in their unique AI architecture and infrastructure.
- Apollo Go achieved a record 2.2 million fully driverless rides, marking a 148% year-over-year growth and establishing strategic partnerships with Uber and Lyft for international expansion.