Baidu's Q2 results missed expectations, with Non-GAAP EPS of $1.06 falling short by $0.40 and revenue of $4.62 billion missing estimates by $120 million. General business revenue declined 4% year-over-year to RMB25.2 billion, while iQIYI revenue dropped 5% to RMB6.3 billion. Adjusted EBITDA stood at RMB6.2 billion with a 20% margin. The company held RMB283.1 billion in cash and investments as of June 30, 2026.