AI Services

Kingsoft Cloud (NASDAQ: KC) — Q2 2026 Pre Earnings

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Pre earnings note company quarterly analysis

Operations

Q1 2026
Q1 Revenue ↑ 37.3% YoY ¥2.70B
Segments
Public Cloud Services 73.8%
Enterprise Cloud Services 26.2%

Key Earnings Driver

AI Business Public Cloud Services revenue increased 47.5% year over year to RMB1.9963B, with AI Business gross billing increasing 90% and accounting for more than half of Public Cloud Services revenue for the first time. Enterprise Cloud Services revenue increased 14.7% to RMB707.4M, but declined 17.6% sequentially, mainly due to the Chinese New Year impact and differentiated delivery schedules for various projects.

Key Operating Metrics¹

METRIC

STATUS

Public Cloud Services↑ 47.5%

AI Business

🟢 Scaling

Enterprise Cloud Services↑ 14.7%

Sources: Kingsoft Cloud Q1 2026 Financial Results — Company Website, Kingsoft Cloud Q1 2026 Financial Results — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Baidu (NASDAQ: BIDU) — Q2 2026 Pre Earnings

by
Pre earnings note company quarterly analysis

Operations¹

Q1 2026
Q1 Revenue ↓ 1.2% YoY ¥32.08B
Segments
Baidu General Business 80.7%
iQIYI 19.3%

Key Earnings Driver

GPU Cloud Baidu General Business revenue increased 2% year over year to RMB26.0B. with Online Marketing Services declining 22% to RMB12.6 billion, while Others revenue increased 42% to RMB13.4 billion and GPU Cloud revenue within Others increased 184%. iQIYI revenue declined 14% to RMB6.2B.

Key Operating Metrics²

METRIC

STATUS

Baidu General Business↑ 2.0%

Online Marketing Services↓ 22.0%

🟡 Watch

Others↑ 42.0%

GPU Cloud↑ 184.0%

🟢 Scaling

iQIYI↓ 13.0%

Membership Services↓ 5.0%

🟡 Watch

Online Advertising Services↓ 7.0%

🟡 Watch

Content Distribution↓ 43.0%

🟡 Watch

Other↓ 49.0%

🟡 Watch

Sources: Baidu Q1 2026 Financial Results — Company Website, Baidu Q1 2026 Earnings Release — Company PDF

Operations¹: Total revenue is after inter-segment elimination. Division revenue percentages are before inter-segment elimination.

Key Operating Metrics²: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.