Baidu.com (NASDAQ: BIDU) reported Q2 EPS of $2.36, $0.85 better than the analyst estimate of $1.51. Revenue for the quarter came in at $3.08 billion versus the consensus estimate of $3.08 billion.

"In the second quarter, Baidu announced our new mission to make a complex world simpler through technology.\" said Robin Li, Baidu\'s Chairman and Chief Executive Officer. "To achieve our mission, we will execute on two strategic pillars: to strengthen our mobile foundation and lead in AI. We will use AI as a fundamental driver to elevate our current core business, specifically our core products of Mobile Baidu, search and feed. In parallel, we will continue to build out our newer AI-enabled initiatives through an open platform and ecosystem approach to capture long term economic opportunity."

"We made big strides in the second quarter, as we reported solid financial performance and made meaningful progress in our core business and AI-enabled initiatives," said Qi Lu, Baidu\'s Vice Chairman, Group President and Chief Operating Officer. "Our Mobile Baidu App and our Feed product showed strong progress, and the solid increase of our online active customer base reaffirmed Baidu's unique and compelling value proposition. At our inaugural Baidu Create AI Developer conference, we showcased our AI platform and eco-system leadership position and compelling long term economic opportunities. iQiyi also continued to solidify its lead in the online video industry."

"We delivered solid results in the second quarter,\" said Jennifer Li, CFO of Baidu. "We will continue to drive operational efficiency on our platform and invest in the core strength of technology and in our ecosystem. We will execute with discipline to fulfill our new mission in the AI era to generate long term shareholder value.

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