Baidu's Second Quarter Earnings Report Falls Short of Expectations, Stock Plunges Over 5% in Pre-market Trading, Proceeding with Hong Kong Dual Primary Listing Conversion

BlockBeats News, August 18th, Baidu Group released its second-quarter financial report, with a revenue of 31.33 billion Chinese Yuan, slightly below the estimated 31.59 billion Chinese Yuan. The revenue from core AI new business in the second quarter was 12.5 billion Chinese Yuan, and the adjusted earnings per ADS in the second quarter were 7.22 Chinese Yuan, lower than the estimated 9.75 Chinese Yuan. Baidu stated that it is actively promoting the dual-primary listing transfer process in Hong Kong, expected to be completed within the year.

According to BIT (bit.com) market data, Baidu's stock fell over 5% in pre-market trading.