Baidu reported Q2 2024 total revenues of RMB33.9 billion, flat YoY, with Baidu Core revenue increasing 1% to RMB26.7 billion. Online marketing revenue declined 2% to RMB19.2 billion, while non-online marketing revenue grew 10% driven by AI Cloud business. Operating income rose 14% YoY to RMB5.9 billion, with Core operating margin reaching 21%.The company achieved significant operational progress in AI initiatives. Apollo Go provided 899,000 autonomous rides in Q2, up 26% YoY, and expanded to fully driverless operations across Wuhan. The company launched ERNIE 4.0 Turbo in June 2024, offering enhanced capabilities at lower costs compared to previous versions.Baidu maintained strong financial position with cash and short-term investments of RMB162.0 billion as of June 30, 2024. The company returned US$301 million to shareholders in Q2 through share repurchases, bringing total buybacks to US$1.2 billion under the 2023 program. Monthly active users of Baidu App grew 4% YoY to 703 million in June 2024.

Baidu reported Q2 2024 total revenues of RMB33.9 billion, flat YoY, with Baidu Core revenue increasing 1% to RMB26.7 billion. Online marketing revenue declined 2% to RMB19.2 billion, while non-online marketing revenue grew 10% driven by AI Cloud business. Operating income rose 14% YoY to RMB5.9 billion, with Core operating margin reaching 21%.The company achieved significant operational progress in AI initiatives. Apollo Go provided 899,000 autonomous rides in Q2, up 26% YoY, and expanded to fully driverless operations across Wuhan. The company launched ERNIE 4.0 Turbo in June 2024, offering enhanced capabilities at lower costs compared to previous versions.Baidu maintained strong financial position with cash and short-term investments of RMB162.0 billion as of June 30, 2024. The company returned US$301 million to shareholders in Q2 through share repurchases, bringing total buybacks to US$1.2 billion under the 2023 program. Monthly active users of Baidu App grew 4% YoY to 703 million in June 2024.