Baidu's Q2 total revenue rises 20% YoY to $4.8B

Thursday, 12. August 2021 11:53

Baidu Inc. unveiled on Thursday that its total revenue for the second quarter of the year hit 31.3 billion yuan ($4.8 billion) increasing 20% when compared to the same period last year.

The company's reported a net loss of 583 million yuan ($90 million), which is a significant drop from last year's net income of 3.6 billion yuan. Meanwhile, its diluted loss per American depository shares (ADS) for the second trimester was 1.70 yuan ($0.26). Lastly, Baidu's operating income fell 5% year-on-year from 3.6 billion yuan to 3.4 billion yuan ($536 million).

Robin Li, CEO of Baidu, commented on the results: "Baidu Core delivered another strong quarter, powered by the fast growth of our new AI business. AI enables businesses and local governments to do more and serve more people. We are excited about the opportunities to help different industries transform their business with AI and support our goal to become carbon neutral by 2030."

Baidu shares on Nasdaq increased 0.36% following the release of the report.

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Breaking the News / OL