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Baidu, Inc. Class A (HK:9888)
:9888
Earnings Data
Report Date
May 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.65Last Year’s EPS
2.52Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights robust and accelerating adoption of Baidu's AI businesses — especially AI Cloud Infra, AI applications, digital humans and Apollo Go — with strong growth rates (e.g., 143% YoY Q4 subscription growth, AI Cloud Infra +34% YoY) and meaningful product traction (ERNIE Assistant MAU >200 million, >1 million apps from Miaoda). Strategic moves (Kunlunxin spin-off, USD 5bn buyback, first dividend) and improving non-GAAP profitability and H2 cash flow turn provide positive momentum. Offsetting these strengths are a full-year revenue decline (-3% YoY) driven by legacy business, a substantial RMB 16.2 billion impairment that drove GAAP operating loss for the year, higher costs (cost of revenues +10% YoY) and full-year negative operating cash flow. Overall, the positives — accelerating AI revenue mix, strong unit milestones for Apollo Go, strategic capital actions and improving sequential profitability/cash flow — appear to meaningfully outweigh one-time and legacy headwinds.Company Guidance
Strong Q4 and AI Mix
Baidu General Business Q4 revenue (subset) reported at RMB 26.1 billion; core AI-powered business revenue exceeded RMB 11 billion in Q4, representing ~43% of Baidu General Business revenue and demonstrating rapid mix shift toward AI.
AI Cloud Infra Acceleration
AI Cloud Infra full-year revenue ~RMB 20 billion in 2025, up 34% year-over-year; subscription-based revenue from AI accelerator infrastructure grew 143% YoY in Q4 and achieved triple-digit growth for the full year, driving recurring, higher-quality revenue.
Cloud Combined Revenue Momentum
Combined AI Cloud (AI Cloud Infra + AI applications) revenue reached RMB 30 billion for full year 2025, indicating strong traction across infrastructure and application layers.
Apollo Go — Rapid Scale and Global Expansion
Apollo Go delivered 3.4 million fully driverless rides in Q4 and over 10 million fully driverless rides in 2025; cumulative public rides surpassed 20 million as of Feb 2026; total rides grew >200% YoY in Q4; weekly peak fully driverless rides exceeded 300,000; footprint reached 26 cities globally.
AI Applications & Product Adoption
ERNIE Assistant MAU exceeded 200 million in December; AI search API call volume up >110% QoQ in Q4; Miaoda/MeDo users created >1 million AI applications globally by early February; digital humans live streaming rose nearly 200% YoY in Dec 2025.
Efficiency Gains in AI Products
Digital human production costs declined to roughly one-third of the previous quarter, improving cost economics and positioning the technology for broader adoption.
Corporate and Capital Actions to Unlock Value
Proposed spin-off and separate listing of Kunlunxin (proprietary AI chips) announced; Board approved a new USD 5 billion share repurchase program and introduced Baidu's first dividend policy to enhance shareholder returns.
Improving Profitability and Cash Flow Trends (Non-GAAP)
Q4 non-GAAP operating income was RMB 3.0 billion with a 9% non-GAAP operating margin; non-GAAP net income in Q4 was RMB 3.9 billion (12% non-GAAP net margin). Operating cash flow turned positive in Q3 and remained positive in Q4 (Q4 operating cash flow RMB 2.6 billion; combined H2 operating cash flow ~RMB 3.9 billion). Total cash & investments were RMB 294.1 billion as of Dec 31, 2025.
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 |
|---|---|---|---|
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% |
May 21, 2025 | HK$87.80 | HK$86.10 | -1.94% |
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 May 27, 2026, After Close (Confirmed).
What is Baidu, Inc. Class A (HK:9888) earnings time?
Baidu, Inc. Class A (HK:9888) earnings time is at May 27, 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 (Q1) is 1.65.
