I. Financial performance:
1. Revenue: Baidu's core revenue (excluding iQiyi portion) 2020 Q2 revenue was 31.35 billion yuan, an increase of 27% over the previous year. iQiyi's partial revenue was 7.6 billion yuan, an increase of 3% over the previous year. The revenue growth of Baidu's core business this quarter was mainly driven by Baidu's smart cloud business development. This quarter's smart revenue reached 3.3 billion yuan, an increase of 71% over the previous year.
        
2. Net profit: Net profit loss attributable to Baidu in Q2 2021 was 583 million yuan, compared to net profit of 3,579 billion yuan for the same period last year. The reason the net profit turned into a loss was that its long-term investment “Kuaishou Technology” stock price was drastically adjusted, causing long-term investments to lose 3.1 billion yuan at fair value.
3. Operating profit: Baidu's core operating profit was 4.6 billion yuan, and the core operating profit margin reached 19%. The adjusted EBITDA was $7.3 billion. Baidu Core's adjusted EBITDA is $8 billion, and Baidu Core's adjusted EBITDA margin is 33%.
4. Financial Guidelines: Assuming that Baidu's core revenue increases 9% to 20% year over year, Baidu's expected revenue will be between RMB 30.6 billion (US$4.7 billion) and RMB 33.5 billion (US$5.2 billion), an increase of 8% to 19% year over year.
II. Online marketing business: Q2 marketing business recovered, Q3 uncertain
1. Operating data: Baidu's MAU reached 580 million people in June, of which every day...