Baidu's Q2 results show robust growth, with a 15 percent rise in revenue to 34.1 billion yuan and a striking 44 percent increase in net income, driven by AI and smart driving advancements.
Photo by Kuang Da
By CUI Peng
Baidu's Q2 results show the company is doing very well, with robust growth and revenue of 34.1 billion yuan (US$4.7 billion), 15 percent better than this time last year. Net income attributable to the company hit 8 billion yuan, an impressive 44 -percent year-on-year growth.
During the second quarter, Baidu's key business segments, including AI Cloud and intelligent driving, have continued to experience strong momentum due to their widespread adoption. The Ernie Qianfan Foundation model, an all-inclusive AI service platform, onboarded new clients across a diverse range of industries, from financial institutions to corporations.
The Apollo Go self-driving taxi program, backed by Baidu, has made significant strides after securing operational approval with 3.3 million rides so far.
The Baidu had 680 million users in June, marking an 8 percent year-on-year increase. Baidu's smart speaker, Xiaodu dominated smart display and smart speaker shipments in China.
Additionally, the second quarter saw the launch of Ernie 3.5, which powers Baidu's conversational Ernie bot with a three-fold increase in training throughput and an extraordinary 30-fold increase in reasoning throughput.
