Baidu’s revenues up 20% in Q2

Beijing, 12th August: Last week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2021. Revenues in the quarter were US$4.9 billion, an increase of 20% year-on-year. However, the company posted a loss of US$90 million for the quarter, compared with net income of US$507 million in the second quarter of 2020.

More than 66% of its total revenues (US$3.2 billion) were generated from Baidu’s online marketing services, which grew by 18% year-on-year. The remaining revenues were generated from a variety of others services, amounting to US$1.6 billion. This represents an increase of 26% compared with the previous year. The increase was mainly driven by its cloud service.