Baidu Non-GAAP EPADS of $1.90 beats by $0.04, revenue of $4.57B misses by $10M

* Baidu press release [https://seekingalpha.com/pr/20206067-baidu-announces-second-quarter-2025-results] (NASDAQ:BIDU [https://seekingalpha.com/symbol/BIDU]): Q2 Non-GAAP EPADS of $1.90 beats by $0.04.
* Revenue of $4.57B (-4.0% Y/Y) misses by $10M.
* Revenue from Baidu Core was RMB26.3 billion ($3.66 billion), decreasing 2% year over year; online marketing revenue was RMB16.2 billion ($2.27 billion).
* Revenue from iQIYI was RMB6.6 billion ($926 million), decreasing 11% year over year.
* Adjusted EBITDA was RMB6.5 billion ($906 million) and adjusted EBITDA margin was 20%. Adjusted EBITDA for Baidu Core was RMB6.4 billion ($893 million) and adjusted EBITDA margin for Baidu Core was 24%.

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