Baidu Statistics 2026: Revenue, AI Cloud, Users and Apollo Go

Baidu reported total revenues of RMB 129.1 billion for fiscal year 2025, decreasing 3% year over year. Baidu Core AI-powered Business revenue reached RMB 12.5 billion in the second quarter of 2026, half of Baidu General Business revenue. Those Baidu statistics describe a search company whose growth now comes from AI cloud, while Apollo Go ride volumes keep rising.

Baidu App’s monthly active users (MAUs) reached 644 million in June 2026. StatCounter put Baidu’s search engine market share in China at 46.65% in September 2026. Baidu is now dual-primary listed on the Hong Kong Stock Exchange and the Nasdaq Global Select Market. Figures are in renminbi (RMB), as Baidu reports them. Baidu’s revenue and operational data by business line come from its internal management accounts and records, which have not been audited.

Key Takeaways

• Baidu Core AI-powered Business made up 36% of Baidu General Business revenue in Q1 2025 and 52% in Q1 2026, while Legacy Business revenue fell 23% year over year in Q2 2026.
• Revenue from GPU Cloud increased by 283% year over year in the second quarter of 2026, accelerating from 184% growth in the previous quarter, according to Baidu.
• Baidu App’s MAUs went from 735 million in June 2025 to 644 million in June 2026, according to Baidu.
• Apollo Go delivered 3.4 million fully driverless operational rides in Q4 2025, with weekly rides peaking at over 300,000, per Baidu.
• Baidu held 46.65% of search engine market share in China but 0.44% worldwide in September 2026, according to StatCounter.
• Online Marketing Services revenue fell 19% year over year to RMB 13.1 billion in Q2 2026.

Editor’s Choice

• Total revenues, fiscal year 2025: RMB 129.1 billion.
• Core AI-powered Business revenue, fiscal year 2025: RMB 40.0 billion, up 48%.
• ERNIE Assistant MAUs, December 2025: 202 million.
• Apollo Go global footprint, Q2 2026 results: 28 cities.
• Total cash and investments, June 30, 2026: RMB 283.1 billion.
• Share repurchase program authorized in February 2026: up to $5 billion.

Baidu Statistics: Revenue by Year

• Baidu’s total revenues were RMB 129.1 billion ($18.46 billion) in fiscal year 2025, decreasing 3% year over year, primarily due to a decrease in Legacy Business.
• Fiscal year 2025 included an impairment of long-lived assets of RMB 16.2 billion, attributable to an impairment loss of Core asset group.
• In fiscal year 2021, total revenues were RMB 124.5 billion, increasing 16% year over year.

Source: Baidu fourth quarter and fiscal year results releases, 2021 to 2025

Annual revenue has moved within a narrow band for five years. The quarterly figures show where the 2025 decline sits.

About This Data

• Sources: 15 in total, made up of 10 Baidu quarterly and annual results releases, 3 Baidu corporate press releases and 2 StatCounter search engine market share pages.
• Data periods: fiscal year 2021 to September 2026.
• Selection: company-reported figures and one independent web analytics tracker; market-research sellers were left out.
• Updates: reviewed on a rolling basis; figures are updated when sources publish new editions.

Baidu Quarterly Revenue

• Revenue was RMB 31.3 billion ($4.62 billion) in Q2 2026, decreasing 2% quarter over quarter and 4% year over year, according to Baidu’s second quarter 2026 results.
• Revenue from Baidu General Business was RMB 25.2 billion in Q2 2026, decreasing 3% quarter over quarter and 4% year over year.
• Total revenues were RMB 32.7 billion in Q4 2025, increasing 5% quarter over quarter, primarily due to an increase in Baidu Core AI-powered Business.
• Q3 2025 total revenues were RMB 31.2 billion, decreasing 7% year over year.
• Total revenues were RMB 32.5 billion in Q1 2025, increasing 3% year over year.

Recent Developments

• September 7, 2026: Baidu’s Class A ordinary shares traded on the Hong Kong Stock Exchange were included in the Shenzhen-Hong Kong Stock Connect program, and their inclusion in the Shanghai-Hong Kong Stock Connect program also became effective.
• September 1, 2026 (Hong Kong time): Baidu’s conversion from a secondary listing to a dual-primary listing on the Main Board of The Stock Exchange of Hong Kong Limited became effective, alongside its listing on the Nasdaq Global Select Market.
• August 26, 2026: Shareholders passed all proposed resolutions at an extraordinary general meeting held in Beijing, giving all necessary shareholder approvals for the primary conversion.
• August 18, 2026: Baidu’s Q2 2026 results showed operating cash flow positive for the fourth consecutive quarter, at RMB 3.4 billion.
• July 2026: Baidu submitted its application for the primary conversion and received the Hong Kong Stock Exchange’s acknowledgement of the application.
• Reported with Q2 2026 results (August 18, 2026): Apollo Go launched fully driverless commercial operations in Dubai, with rides also available through the Uber app, and began open-road testing in London in partnership with Uber and Lyft.

Baidu AI-Powered Business Revenue

• Baidu Core AI-powered Business revenue rose 48% to RMB 40.0 billion in fiscal year 2025, from RMB 27.0 billion in fiscal year 2024, with AI Cloud Infra at RMB 19.8 billion.
• AI-native Marketing Services revenue grew 301% year over year to RMB 9.8 billion in fiscal year 2025.
• The AI-powered business was 26% of Baidu General Business revenue in fiscal year 2024 and 39% in fiscal year 2025.
• In Q4 2025, Core AI-powered Business revenue exceeded RMB 11 billion, accounting for 43% of Baidu General Business revenue.
• Legacy Business revenue fell 23% year over year to RMB 10.4 billion in Q2 2026.

Key finding: Baidu’s AI-powered business made up 52% of Baidu General Business revenue in Q1 2026, up from 36% in Q1 2025, while Legacy Business revenue fell 29% year over year to RMB 10.2 billion. The mix shifted because advertising shrank as much as because AI grew.

The quarterly share below shows when the AI-powered business moved past half of General Business revenue.

Baidu AI Cloud Revenue

• Revenue from AI Cloud Infra was RMB 8.8 billion in Q1 2026, up 79% year over year.
• AI Cloud Infra revenue was RMB 7.3 billion in Q2 2026, up 50% year over year.
• AI Cloud Infra revenue was approximately RMB 20 billion for the full year 2025, up 34% year over year.
• Subscription-based revenue from AI accelerator infrastructure grew 128% year over year in Q3 2025, and it increased 143% year over year in Q4 2025.
• Baidu now calls that line GPU Cloud, and says its growth reflected mounting demand for public cloud-based AI computing.
• GPU Cloud revenue increased by 283% year over year in Q2 2026, further accelerating from 184% growth in the previous quarter.

Baidu Online Marketing Revenue

• Online Marketing Services revenue was RMB 13.1 billion in Q2 2026, down 19% year over year, and made up 52% of Baidu General Business revenue.
• Online marketing revenue fell 22% year over year to RMB 12.6 billion in Q1 2026, when other revenue reached RMB 13.4 billion.
• Online marketing’s share of Baidu General Business went from 63% in Q1 2025 to 48% in Q1 2026.
• Baidu Core’s online marketing revenue was RMB 73.0 billion in fiscal year 2024, decreasing 3% year over year.
• Baidu Core’s online marketing revenue was RMB 75.1 billion in fiscal year 2023, up 8% year over year, and the Baidu Core figure was RMB 69.5 billion in fiscal year 2022, decreasing 6%.

Why is Baidu struggling?

Baidu’s weak spot is advertising. Online Marketing Services revenue fell 19% year over year in Q2 2026. Co-founder and CEO Robin Li said the online marketing business remains under pressure. Fiscal year 2025 also carried an impairment of long-lived assets of RMB 16.2 billion.

Baidu App Monthly Active Users

• Baidu App’s MAUs reached 644 million in June 2026, down from 655 million in March 2026.
• Baidu App’s MAUs reached 735 million in June 2025, up 5% year over year.
• MAUs were 679 million in December 2025, remaining flat year over year.
• In December 2021, Baidu App’s MAUs reached 622 million, up 14% year over year.
• The app had 91 million fewer MAUs in June 2026 than in June 2025.

Why it matters: Baidu’s own releases show Baidu App MAUs at 735 million in June 2025 and 644 million in June 2026, while Online Marketing Services revenue fell 19% year over year in Q2 2026. A smaller app audience is a headwind for an advertising business that is already shrinking, which raises the stakes for AI search.

Baidu AI Search Statistics

• Roughly 70% of Baidu’s mobile search result pages contained AI-generated content in October 2025, up from 35% in April 2025.
• Baidu said traditional link-based results were progressively replaced by structured, intelligent, and multimodal-first AI answers.
• Baidu continued to advance the AI transformation of Baidu Search in Q3 2025.

Source: Baidu second and third quarter 2025 results

Baidu Search Engine Market Share

• Baidu held 46.65% of search engine market share in China in September 2026, according to StatCounter.
• Bing followed at 21.76% and Yandex at 14.98%.
• Worldwide, Baidu’s share was 0.44% in September 2026, while Google held 89.94%.
• StatCounter figures are a web-traffic estimate, so they will not match Baidu’s own user counts.

Is Baidu bigger than Google?

Not worldwide: StatCounter put Google at 89.94% of global search engine market share in September 2026 and Baidu at 0.44%. In China the order flips, with Baidu at 46.65% and Google at 1.46%. Baidu’s scale is national, not global.

Apollo Go Robotaxi Statistics

• Apollo Go delivered 3.2 million fully driverless operational rides in Q1 2026, with weekly rides peaking at over 350,000 in March.
• Total rides increased by over 120% year over year in Q1 2026, and cumulative rides exceeded 22 million as of April 2026.
• Apollo Go fleets have accumulated over 350 million autonomous kilometers, including over 240 million fully driverless autonomous kilometers, per the Q2 2026 results.
• Apollo Go’s global footprint has reached 28 cities.
• In Chinese mainland, Apollo Go has achieved 100% fully driverless operations in all cities where it operates, per Baidu’s Q3 2025 results.
• In July 2025, Apollo Go entered a multi-year strategic partnership with Uber to deploy thousands of fully autonomous vehicles on the Uber platform across multiple international markets.

Source: Baidu quarterly results releases, Q4 2022 to Q1 2026; fully driverless operational rides from Q2 2025

By the numbers: Apollo Go delivered 3.4 million fully driverless operational rides in Q4 2025, with weekly rides peaking at over 300,000. In Q1 2026 it delivered 3.2 million such rides, with total rides up over 120%. Growth stays high, though the year-over-year rate slowed as the base grew.

Apollo Go’s global footprint grew from 16 cities in June 2025 to 28 by the Q2 2026 results.

ERNIE and AI Application Statistics

• ERNIE Assistant’s MAU reached 202 million in December 2025.
• ERNIE handled approximately 1.65 billion API calls daily in December 2024, with external API calls increasing by 178% quarter over quarter.
• Baidu open-sourced the ERNIE 4.5 series, a family of ten models of different architectures and sizes, in June 2025.
• Baidu released an updated version of ERNIE 5.0, its native omni-modal foundation model, in January 2026.
• ERNIE 5.1, launched in May 2026, ranked first among Chinese models on the LMArena text leaderboard and fourth globally on the search leaderboard, as of Baidu’s Q1 2026 results.
• Revenue from AI Applications was RMB 2.7 billion in Q4 2025, with full year 2025 revenue exceeding RMB 10 billion.
• AI Applications revenue was RMB 2.5 billion in Q2 2026, up 3% year over year.
• In June 2026, AI daily active user (DAU) penetration across Baidu Wenku and Baidu Drive increased by 27.4% year over year.
• The PaddlePaddle developer community had grown to 10.7 million and served 235,000 businesses as of the end of 2023.

iQIYI Revenue

• Revenue from iQIYI was RMB 6.3 billion in Q2 2026, increasing 1% quarter over quarter and decreasing 5% year over year.
• iQIYI revenue was RMB 6.2 billion in Q1 2026, decreasing 8% quarter over quarter.
• iQIYI revenue was RMB 6.7 billion in Q3 2025, decreasing 8% year over year.
• In Q1 2025, revenue from iQIYI was RMB 7.2 billion, decreasing 9% year over year.
• Full-year iQIYI revenue was RMB 29.2 billion in fiscal year 2024, decreasing 8% year over year.
• In fiscal year 2023, iQIYI revenue was RMB 31.9 billion, increasing 10% year over year.

Source: Baidu fourth quarter and fiscal year results releases, 2021 to 2024

Baidu Profit and R&D Spending

• Research and development (R&D) expenses were RMB 20.4 billion in fiscal year 2025, decreasing 8% year over year, primarily due to a decrease in personnel-related expenses.
• R&D expenses were RMB 24.2 billion in fiscal year 2023, increasing 4% year over year.
• Baidu posted an operating loss of RMB 5.8 billion in fiscal year 2025; excluding impairment of long-lived assets, operating income was RMB 10.4 billion.
• Net income attributable to Baidu was RMB 5.6 billion in fiscal year 2025, or RMB 19.4 billion excluding the impact of impairment of long-lived assets.
• In Q2 2026, operating income was RMB 3.0 billion and operating margin was 10%; net income attributable to Baidu was RMB 2.3 billion, with a net margin of 7%.

Profit fell much further than revenue in 2025, and the impairment explains most of the gap.

Source: Baidu fourth quarter and fiscal year results releases, 2023 to 2025

Baidu Cash and Shareholder Returns

• Total cash and investments were RMB 283.1 billion ($41.72 billion) as of June 30, 2026.
• Operating cash flow was RMB 3.4 billion in Q2 2026.
• In February 2026, the Board authorized a new share repurchase program of up to $5 billion, effective through December 31, 2028, and approved a dividend policy for the first time.
• Baidu has returned $259 million to shareholders through share repurchases since the beginning of Q1 2026.
• The CFO said the first dividend payment could potentially be made by year-end 2026.

Conclusion

Baidu statistics show a company in the middle of a revenue swap: total revenues were RMB 129.1 billion in fiscal year 2025, down 3%, while the AI-powered business reached 50% of Baidu General Business revenue in Q2 2026. AI cloud is now the growth engine, and search advertising is the drag.

Apollo Go’s global footprint has reached 28 cities, and GPU Cloud revenue grew 283% year over year in Q2 2026. The numbers to watch next are whether that cloud growth holds and whether Baidu App users stop falling.