Baidu Q2 Adjusted Net Profit Down 46.3% to RMB2.573 Billion; Shares Slide Over 14%
Baidu reported second-quarter adjusted net profit of RMB2.573 billion, down 46.3% year-on-year and below the RMB3.198 billion market estimate. Revenue fell 4.24% to RMB31.325 billion, roughly in line with expectations. Capital expenditure surged nearly two-fold to to RMB11.39 billion, pushing free cash flow negative. Shares fell as much as 14.4% intraday, down more than 14% at the low, and were 12.6% lower at 9:38am.
Baidu's shares fell on August 19, 2026, dropping more than 14% intraday, with a maximum decline of 14.4% to a low of HK$86.5. As of 9:38am, the stock was at HK$88.4, down 12.6%, with turnover exceeding HK$490 million.
Baidu released its second-quarter results for the period ended June 30. Adjusted net profit fell 46.3% year-on-year to RMB2.573 billion, below the market estimate of RMB3.198 billion. Capital expenditure surged nearly two-fold to RMB11.39 billion, leading to negative free cash flow. Quarterly revenue decreased 4.24% year-on-year to RMB31.325 billion, roughly in line with the estimated RMB31.587 billion.