Technology

Semiconductor solutions revenue was $20.839 billion, or 70% of the total, up 127% from $9.166 billion. Infrastructure software revenue was $8.752 billion, or 30%, up 29% from $6.786 billion.

Annual recurring revenue (ARR) reached $465.1m, up 27% as reported and 24% adjusted for currency. Dollar-based net retention was 111%, or 110% adjusted for currency, while dollar-based gross retention was 89%. The gap between the two retention figures shows that expansion from existing customers …

The profit swing was larger still.GAAPnet income attributable to AXT was $11.1m, or $0.17 per diluted share, against a net loss of $1.6m in the previous quarter and a loss of $7.0m a year earlier. Non-GAAP net income, which excludes items such as stock-based …

That makes the latest reported figures those for the second quarter of 2026, covering the three months to 30 June, which the company published at the end of July.

GrossMarginwas 10.4% on a GAAP basis and 10.5% non-GAAP.Operating Marginwas 4.0% GAAP and 5.2% non-GAAP.Operating Cash Flowwas $35m and free cash flow was $22m. For the first six months, revenue totalled $1.43bn, with GAAP diluted earnings per share of $0.91 and non-GAAP earnings per …

The headline decline masks sharply different trends inside the company. Online marketing services, the traditionalAdvertisingengine, fell 19% year on year to RMB13.1bn, although it rose 4% from the first quarter. Meanwhile, what Baidu calls its Core AI-powered Business grew 25% to RMB12.5bn, about half …

The repurchase and Tencent's US$200m subscription for convertible senior notes due 2031 are inter-conditional, so completion depends on approval. The pricing announcement said the repurchase requires approval by at least three-fourths of disinterested votes cast.