Baidu, Inc. Class A (HK:9888)
:9888
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Earnings Data
Report Date
Aug 26, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.8Last Year’s EPS
1.85Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational narrative focused on AI-driven transformation: large, fast growth in core AI businesses (core AI revenue +49% YoY; AI Cloud Infra +79% YoY; GPU Cloud +184% YoY), milestone of AI-powered revenue exceeding 50% of core business, improved profitability (non-GAAP operating income +39% QoQ) and sustained positive operating cash flow. Balanced against these strengths were short-term headwinds including a 2% quarter-over-quarter decline in total company revenue, iQIYI revenue softness (-8% QoQ), higher AI-related costs (+7% QoQ) and capacity/supply constraints for compute. Management emphasized continued investment, capacity expansion and confidence in margin expansion over time. Overall, the positives around AI momentum, product leadership and improving operating metrics materially outweigh the listed challenges.Company Guidance
Return to Positive Revenue Growth for Core Business
Baidu General Business revenue was RMB 26.0 billion in Q1, up 2% year-over-year, marking a return to positive growth after several quarters of decline.
Core AI-Powered Business Becomes Majority
Revenue from Baidu's core AI-powered business reached RMB 13.6 billion, up 49% year-over-year, and for the first time accounted for more than half of Baidu General Business revenue (52%).
Exceptional AI Cloud Infrastructure Momentum
AI Cloud Infrastructure revenue grew 79% year-over-year; GPU Cloud revenue accelerated to 184% year-over-year (up from 143% last quarter), driving higher-quality, higher-margin cloud mix.
Strong AI Cloud Revenue Combined with Applications
Combined AI Cloud Infra and AI applications revenue totaled RMB 11.3 billion in Q1, supported by a nearly 7x year-over-year increase in daily average token consumption from external customers on the Tianfan MoS platform.
Profitability and Cash Flow Improvement
Non-GAAP operating income of Baidu General Business increased 39% quarter-over-quarter to RMB 4.0 billion; operating cash flow was positive for the third consecutive quarter at RMB 2.7 billion; non-GAAP net income was RMB 4.3 billion with a non-GAAP net margin of 14%.
Product and Model Leadership
Launched ERNIE 5.1 which ranked first among Chinese models on LMArena Text and topped the LMArena Search leaderboard among Chinese models (4th globally); ERNIE supported newer models (DeepSeek-V4, GLM-5.1, MiniMax M2.7) and continues to be iterated with application-driven focus.
Commercial and Customer Wins for Full-Stack Advantage
Kunlunxin chips achieved large-scale commercial deployment (single cluster >30,000 accelerators); new and expanding clients include Unitree, Honor, Oppo and Vivo; partnerships with Jingdong, Zuoyebang, TikTok and Shopee deepen commercial traction.
AI Applications Scaling and Product Traction
Key application metrics: DuMate launched as a stateful productivity agent; Miaoda monthly active users grew ~70% quarter-over-quarter in March and domestic paying user rate ~3x the level at end of last year; ERNIE Assistant daily active users nearly doubled year-over-year in March and daily average conversation rounds more than tripled year-over-year.
Apollo Go Expansion and Scale
Apollo Go delivered 3.2 million fully driverless rides in Q1 (triple-digit year-over-year growth), cumulative rides exceeded 22 million as of April; international testing/launches progressed (Switzerland, London, Dubai) and new commercial models (airport rentals in Hainan) were piloted; Wuhan city operations achieved unit economics break-even.
Cost Reductions in Digital Humans
Made significant cost improvements in digital human technology with approximately 80% cost reduction over the past two quarters, improving accessibility and scalability for clients and global deployment (24 languages supported).
HK:9888 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HK:9888 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 18, 2026 | HK$135.80 | HK$134.70 | -0.81% |
Feb 26, 2026 | HK$128.90 | HK$123.40 | -4.27% |
Nov 18, 2025 | HK$113.60 | HK$111.40 | -1.94% |
Aug 20, 2025 | HK$87.90 | HK$87.25 | -0.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Baidu, Inc. Class A (HK:9888) report earnings?
Baidu, Inc. Class A (HK:9888) is schdueled to report earning on Aug 26, 2026, After Close (Confirmed).
What is Baidu, Inc. Class A (HK:9888) earnings time?
Baidu, Inc. Class A (HK:9888) earnings time is at Aug 26, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Baidu, Inc. Class A stock?
The P/E ratio of Baidu, Inc. Class A is N/A.
What is HK:9888 EPS forecast?
HK:9888 EPS forecast for the fiscal quarter 2026 (Q2) is 1.8.
