Baidu, Inc. (NASDAQ: BIDU) on Tuesday reported higher revenues and adjusted earnings for the second quarter of 2023. Both operating segments — Baidu Core and iQIYI registering growth.
Total revenues of the China-based technology company increased 15% year-over-year to RMB34.06 billion ($4.70 billion) in the June quarter. The Baidu app had 677 million monthly active users at the end of the quarter, which is up 8% year-over-year.
Second-quarter adjusted earnings moved up to RMB22.55 per ADS ($3.11 per ADS) from RMB15.79 per ADS in the corresponding period of fiscal 2022. On an unadjusted basis, net income was RMB14.17 per ADS ($1.95 per ADS), compared to RMB9.97 per ADS last year.