Analyst Consensus ?
ConsensusBuy51 ratings
Bullish3976.5%
Neutral1121.6%
Bearish11.9%
1 unmapped firm rating excluded from the percentages.
Baidu, Inc. · BIDU · FY2026 Q2 · Calendar Q3 2026
Baidu: AI Cloud Accelerates as Revenue Declines Modestly
Baidu's Q2 analysis supports a differentiated AI-growth thesis: GPU Cloud, Kunlunxin, AI applications, and Apollo Go are expanding, but the evidence is mixed because overall revenue declined modestly and the company is increasing investment. The next test is whether AI growth can offset advertising pressure and infrastructure intensity.
Reported Before market openNASDAQCommunication Services
$30.59B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.06
Consensus $1.51
EPS surprise
-29.8%
Reported versus consensus
Reported revenue
$4.61B
Consensus $4.68B
Revenue surprise
-1.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-12.7%
Event window
SPY move
-0.7%
Same window
Abnormal move
-12.1%
Stock minus SPY
Volume
8.1×
Versus trailing sessions
Subsequent drift
-2.6%
Up to 20 sessions
BIDUSPY benchmark
Ask FN2 about BIDU FY2026 Q2
Transcript, numbers and history already loaded
Why did BIDU fall 12.7% after missing EPS estimates in FY2026 Q2?What changed in BIDU's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BIDU after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, GPU Cloud growth accelerated further, AI Cloud remained a core driver, and Apollo Go expanded its international footprint. Baidu also highlighted a Kunlunxin M300s roadmap and Hong Kong listing conversion, while acknowledging advertising pressure, regulatory effects on robotaxi volumes, and higher investment needs.
Guidance delta
No formal guidance was provided. The supplied analysis points to continued AI Cloud growth, increasing infrastructure investment, and further Apollo Go expansion.
Key takeaways
- AI Cloud Infra remained the central growth engine, with GPU Cloud growth accelerating sharply in the supplied analysis.
- Management highlighted Kunlunxin chips, AI applications, and Apollo Go's international expansion as strategic priorities.
- The growth mix is improving, but advertising pressure, competition, regulation, and infrastructure spending remain risks.
- The Hong Kong listing conversion is intended to broaden the shareholder base and improve liquidity.
Management priorities
- Scale GPU Cloud and higher-margin AI services.
- Advance the Kunlunxin chip roadmap and support broader industry adoption.
- Expand Apollo Go internationally while pursuing improved unit economics.
- Develop AI applications including Miaoda, digital humans, and enterprise agents.
- Complete the planned Hong Kong listing-status conversion process.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$90.69Current
$80Low
$170.22Average
$350High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Susquehanna | Neutral | Neutral | Maintain | Aug 28, 2026 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | Aug 19, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 19, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 17, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 14, 2026 |
| Freedom Capital Markets | Buy | Buy | Maintain | Jan 7, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Jan 7, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 2, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 19, 2025 |
| Macquarie | Outperform | Neutral | Upgrade | Oct 10, 2025 |
| DBS Bank | Buy | Hold | Upgrade | Sep 25, 2025 |
| Arete Research | Buy | Sell | Upgrade | Sep 16, 2025 |
| Citigroup | Buy | Buy | Maintain | Jul 17, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Feb 19, 2025 |
| HSBC | Hold | Buy | Downgrade | Sep 24, 2024 |
| Loop Capital | Buy | Buy | Maintain | Aug 26, 2024 |
| Bernstein | Outperform | Outperform | Maintain | Aug 13, 2024 |
| Nomura Instinet | Buy | Neutral | Upgrade | Nov 22, 2023 |
| OTR Global | Mixed | Positive | Downgrade | Jul 27, 2023 |
| UBS | Buy | Buy | Maintain | Apr 21, 2023 |
| China Renaissance | Buy | Buy | Maintain | Mar 2, 2022 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 13, 2021 |
| Keybanc | Overweight | Overweight | Maintain | Aug 13, 2021 |
| CLSA | Buy | Buy | Maintain | May 19, 2021 |
| Nomura | Neutral | Neutral | Maintain | May 20, 2020 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 11, 2020 |
| Daiwa Capital | Outperform | Hold | Upgrade | Nov 8, 2019 |
| CCB International | Outperform | Neutral | Upgrade | Nov 8, 2019 |
| Credit Suisse | Outperform | Neutral | Upgrade | Jul 9, 2018 |
| Wells Fargo | Outperform | Outperform | Maintain | Sep 27, 2017 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Jan 10, 2017 |
| Stifel | Buy | Hold | Upgrade | Jan 10, 2017 |
| Evercore ISI Group | Hold | Hold | Maintain | Dec 20, 2016 |
| Brean Capital | Buy | Hold | Upgrade | Apr 29, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Oct 30, 2015 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 30, 2015 |
| Summit Research Partners | Hold | Buy | Downgrade | Sep 30, 2015 |
| Summit Insights Group | Hold | Buy | Downgrade | Sep 30, 2015 |
| Pacific Crest | Overweight | Downgrade | Jul 28, 2015 | |
| Bank of America | Buy | Buy | Maintain | Jul 15, 2015 |
| TH Capital | Buy | Hold | Upgrade | May 4, 2015 |
| T.H. Capital | Buy | Hold | Upgrade | May 4, 2015 |
| CICC | Hold | Buy | Downgrade | May 1, 2015 |
| Exane BNP Paribas | Buy | Reduce | Upgrade | Jul 27, 2014 |
| Maxim Group | Buy | Hold | Upgrade | Jan 10, 2014 |
| 86 Research | Buy | Hold | Upgrade | Apr 10, 2013 |
| Raymond James | Market Perform | Outperform | Downgrade | Feb 5, 2013 |
| JG Capital | Overweight | Overweight | Maintain | Dec 6, 2012 |
| Mirae Asset | Buy | Buy | Maintain | Jul 18, 2012 |
| CIMB | Outperform | Outperform | Maintain | Jul 6, 2012 |
| China International Capital | Buy | Buy | Maintain | Apr 26, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $90.69. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Arete Research | Analyst unavailable | $108 | $99.47 | +19.1% | Sep 7, 2026 |
| Barclays | Analyst unavailable | $96 | $90.87 | +5.9% | Aug 19, 2026 |
| Morgan Stanley | Analyst unavailable | $80 | $90.87 | -11.8% | Aug 19, 2026 |
| Barclays | Jiong Shao | $124 | $113.39 | +36.7% | Jul 13, 2026 |
| Susquehanna | Analyst unavailable | $140 | $137.68 | +54.4% | May 20, 2026 |
| Macquarie | Analyst unavailable | $158 | $118.23 | +74.2% | Apr 14, 2026 |
| Barclays | Jiong Shao | $128 | $118.95 | +41.1% | Mar 5, 2026 |
| Macquarie | Ellie Jiang | $177 | $125.15 | +95.2% | Feb 26, 2026 |
| US Tiger Securities | Bo Pei | $150 | $137.86 | +65.4% | Feb 4, 2026 |
| Barclays | Jiong Shao | $147 | $161.44 | +62.1% | Jan 26, 2026 |
| Morgan Stanley | Gary Yu | $150 | $151.37 | +65.4% | Jan 20, 2026 |
| UBS | Analyst unavailable | $215 | $152.3 | +137.1% | Jan 12, 2026 |
| Jefferies | Thomas Chong | $181 | $130.66 | +99.6% | Jan 2, 2026 |
| Susquehanna | Shyam Patel | $110 | $110.95 | +21.3% | Nov 24, 2025 |
| UBS | Analyst unavailable | $188 | $110.95 | +107.3% | Nov 24, 2025 |
| Nomura | Analyst unavailable | $140 | $115.49 | +54.4% | Nov 19, 2025 |
| Goldman Sachs | Lincoln Kong | $155 | $115.49 | +70.9% | Nov 19, 2025 |
| Deutsche Bank | Analyst unavailable | $160 | $127.04 | +76.4% | Nov 6, 2025 |
| Daiwa | John Choi | $160 | $120.62 | +76.4% | Oct 14, 2025 |
| Macquarie | Analyst unavailable | $176 | $132.4 | +94.1% | Oct 10, 2025 |
| Susquehanna | Analyst unavailable | $95 | $96.29 | +4.8% | Sep 2, 2025 |
| Barclays | Jiong Shao | $84 | $84.07 | -7.4% | May 22, 2025 |
| US Tiger Securities | Bo Pei | $120 | $81.63 | +32.3% | Nov 21, 2024 |
| CLSA | Elinor Leung | $120 | $91.7 | +32.3% | Nov 8, 2024 |
| Jefferies | Thomas Chong | $134 | $91.3 | +47.8% | Oct 21, 2024 |
| HSBC | Charlene Liu | $100 | $88.28 | +10.3% | Sep 24, 2024 |
| Susquehanna | Shyam Patil | $105 | $82.78 | +15.8% | Sep 5, 2024 |
| Goldman Sachs | Lincoln Kong | $129 | $86.33 | +42.2% | Aug 26, 2024 |
| Loop Capital Markets | Rob Sanderson | $115 | $87.22 | +26.8% | Aug 26, 2024 |
| Bernstein | Boris Van | $97 | $85.79 | +7.0% | Aug 23, 2024 |
| Barclays | Jiong Shao | $115 | $85.79 | +26.8% | Aug 23, 2024 |
| Jefferies | Thomas Chong | $139 | $86.06 | +53.3% | Aug 22, 2024 |
| Bernstein | Boris Van | $130 | $85.23 | +43.3% | Aug 13, 2024 |
| Loop Capital Markets | Rob Sanderson | $130 | $88.81 | +43.3% | Jun 21, 2024 |
| Susquehanna | Shyam Patel | $135 | $100.58 | +48.9% | May 24, 2024 |
| Barclays | Jiong Shao | $133 | $110.94 | +46.7% | May 17, 2024 |
| Raymond James | James Lee | $130 | $110.97 | +43.3% | May 17, 2024 |
| UBS | Wei Xiong | $165 | $112.59 | +81.9% | May 17, 2024 |
| Morgan Stanley | Gary Yu | $125 | $112.59 | +37.8% | May 17, 2024 |
| CFRA | Angelo Zino | $120 | $112.59 | +32.3% | May 16, 2024 |
| US Tiger Securities | Bo Pei | $155 | $101.61 | +70.9% | Apr 11, 2024 |
| Morgan Stanley | Gary Yu | $140 | $103.68 | +54.4% | Apr 8, 2024 |
| Jefferies | Thomas Chong | $179 | $104.27 | +97.4% | Apr 8, 2024 |
| Goldman Sachs | Lincoln Kong | $174 | $118.03 | +91.9% | Nov 29, 2023 |
| Citigroup | Alicia Yap | $182 | $132.41 | +100.7% | Aug 23, 2023 |
| Mizuho Securities | James Lee | $170 | $129.46 | +87.5% | May 17, 2023 |
| Mizuho Securities | James Lee | $190 | $136.69 | +109.5% | Apr 11, 2023 |
| Goldman Sachs | Analyst unavailable | $186 | $133.66 | +105.1% | Jan 9, 2023 |
| Citigroup | Alicia Yap | $166 | $94.64 | +83.0% | Nov 29, 2022 |
| Goldman Sachs | Analyst unavailable | $176 | $97.18 | +94.1% | Nov 23, 2022 |
| UBS | Analyst unavailable | $175 | $95.08 | +93.0% | Nov 23, 2022 |
| Susquehanna | Analyst unavailable | $195 | $138.53 | +115.0% | Sep 12, 2022 |
| Mizuho Securities | James Lee | $275 | $144.79 | +203.2% | Aug 31, 2022 |
| Citigroup | Analyst unavailable | $204 | $145.41 | +124.9% | Aug 31, 2022 |
| Mizuho Securities | James Lee | $285 | $148.73 | +214.3% | Jun 30, 2022 |
| HSBC | Charlene Liu | $186 | $131.88 | +105.1% | Jun 14, 2022 |
| Citigroup | Analyst unavailable | $223 | $136.19 | +145.9% | May 27, 2022 |
| Jefferies | Thomas Chong | $270 | $133.05 | +197.7% | Apr 11, 2022 |
| Citigroup | Alicia Yap | $254 | $160.57 | +180.1% | Mar 2, 2022 |
| China Renaissance Securities (US) Inc. | Ella Ji | $228 | $160.57 | +151.4% | Mar 2, 2022 |
| UBS | Jerry Liu | $230 | $159.36 | +153.6% | Jan 12, 2022 |
| Benchmark Co. | Fawne Jiang | $330 | $154.36 | +263.9% | Nov 18, 2021 |
| CLSA | Elinor Leung | $285 | $154.36 | +214.3% | Nov 18, 2021 |
| Barclays | Jiong Shao | $243 | $162.27 | +167.9% | Nov 2, 2021 |
| Loop Capital Markets | Rob Sanderson | $240 | $163.26 | +164.6% | Sep 13, 2021 |
| Oppenheimer | Jason Helfstein | $320 | $152.45 | +252.9% | Aug 13, 2021 |
| D.A. Davidson | Hans Chung | $270 | $152.45 | +197.7% | Aug 13, 2021 |
| Nomura | Jialong Shi | $187 | $159.63 | +106.2% | Aug 12, 2021 |
| Credit Suisse | Kenneth Fong | $350 | $193.31 | +285.9% | May 20, 2021 |
| Macquarie | Han Joon Kim | $215 | $189.16 | +137.1% | May 19, 2021 |
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Start freeCompany context
Snapshot as of publicationBaidu, Inc. is a prominent Chinese technology company that offers various internet-based services, primarily focusing on digital marketing and cloud computing, all delivered through its extensive online platform within the People's Republic of China. The company's operations are segmented into two main divisions: Baidu Core and iQIYI. The Baidu Core segment encompasses a wide array of services, including online marketing derived from search queries and user feeds, comprehensive cloud solutions, and innovative products and services developed from its artificial intelligence initiatives. This segment also operates Haokan, a popular short-video platform featuring both user-generated and professionally produced content. Conversely, the iQIYI segment is dedicated to its online entertainment video platform, which provides a diverse selection of media content, including original productions, professionally created shows, and material acquired from partners. Baidu was founded in the year 2000 and maintains its corporate headquarters in Beijing, China.
Latest beats and misses
Who reports nextBeat on EPS
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- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-08-18T19:15:26.530242+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T13:40:50.168925+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T13:40:50.165584+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.