The dynamic anisotropy and failure mechanism of shales are greatly affected by bedding surfaces. To reveal the influence of beddings on anisotropic characteristics of shales under dynamic impact, the Brazilian splitting tests were conducted by the split Hopkinson pressure bar system. The fracturing process were monitored by the high-speed camera. Meanwhile, to understand crack initiation and propagation mechanism, the stress buildup, stress shadow and stress transfer were modelled based on the digital image processing and the rock failure process analysis method. The effect of dip angle and bedding spacing on crack initiation, propagation and coalescence was analyzed. Simultaneously, the spatial distribution and energy magnitude of crack-induced acoustic emissions were captured numerically. The results show that the shale discs continue to produce parallel cracks and cambered cracks induced by the high stresses at the tips of initial cracks; the tensile strength under dynamic splitting changes in the U-shaped trend with the bedding dip angle increasing; the cracking percentage of bedding surfaces decreases, and the cracking percentage of rock matrix increases with the bedding dip angle increasing. In addition, the acceleration of crack growth and the rapid growth of AE energy can be regarded as the effective precursors of shale failure.