Baidu, Inc. Q2 Profit Rises; Total Revenues Up 15%

(RTTNews) - Baidu, Inc. (BIDU) reported second-quarter net income attributable to Baidu of RMB 5.2 billion, and earnings per ADS of RMB 14.17 compared to RMB 3.6 billion or RMB 9.97 per ADS, last year. Net income attributable to Baidu Core was RMB 5.0 billion, up 35%.

Second-quarter non-GAAP net income attributable to Baidu was RMB 8.0 billion, and non-GAAP earnings per ADS was RMB 22.55 compared to RMB 5.5 billion or RMB 15.79 per ADS, previous year. Non-GAAP net income attributable to Baidu Core was RMB 7.7 billion, an increase of 41%.

Second-quarter total revenues were RMB 34.1 billion, an increase of 15% year over year. Revenue from Baidu Core was RMB 26.4 billion, up 14%. Revenue from iQIYI was RMB 7.8 billion, up 17%.

"In the second quarter of 2023, Baidu Core accelerated revenue and profit growth, driven by the solid performance of online marketing business and operating leverage," said Robin Li, CEO of Baidu.

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