Baidu's first-quarter 2026 revenue beats expectations, strong growth in AI and cloud computing businesses triggers stock price surge
Baidu Group's revenue in the first quarter of 2026 reached 32.08 billion yuan, exceeding market expectations. Intelligent cloud infrastructure revenue increased by 79% year-on-year, GPU cloud revenue increased by 184% year-on-year, AI application revenue remained stable, and core AI new business revenue was 13.6 billion yuan, accounting for 52% of general business revenue. Adjusted operating profit was 3.81 billion yuan, adjusted profit per ADS was 12.06 yuan, attributable net profit was 3.4 billion yuan, and non-GAAP net profit was 4.3 billion yuan. Net income fell 55% year-over-year and rose 93% month-over-month. The Company increased investment in AI and intelligent cloud to promote the transformation of business structure. After the release of the financial report, Baidu's stock price rose by more than 5% before the market.