{"id":813803,"date":"2025-02-18T04:03:26","date_gmt":"2025-02-18T09:03:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/baidu-announces-fourth-quarter-and-fiscal-year-2024-results\/"},"modified":"2025-02-18T04:03:26","modified_gmt":"2025-02-18T09:03:26","slug":"baidu-announces-fourth-quarter-and-fiscal-year-2024-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/baidu-announces-fourth-quarter-and-fiscal-year-2024-results\/","title":{"rendered":"Baidu Announces Fourth Quarter and Fiscal Year 2024 Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n BEIJING<\/span>
\n <\/span>, Feb. 18, 2025<\/span><\/span> \/PRNewswire\/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with a strong Internet foundation, today announced its unaudited financial results for the quarter and fiscal year ended December 31, 2024<\/span>.<\/p>\n

“2024 marked a pivotal year in our ongoing transformation from an internet-centric to an AI-first business. AI Cloud gained momentum, fueled by broad market recognition of our full stack AI capabilities. In Mobile Ecosystem, we have been steadfast in advancing the AI transformation, making search more AI-native to deliver a better user experience. Apollo Go, after years of investment, validated its business model, paving the way for global expansion and scalable, asset-light strategies,” said Robin Li<\/span>, Co-founder and CEO of Baidu. “With our strategic foresight increasingly validated, we expect our AI investments to deliver more significant results in 2025.”<\/p>\n

“Our AI Cloud business demonstrated robust momentum with fourth-quarter revenue growth accelerating to 26% year over year, offsetting the softness in online marketing business,” said Junjie He<\/span>, Interim CFO of Baidu. “While navigating near-term pressures, we are confident that our strategic AI investments will drive meaningful progress and foster long-term success.”<\/p>\n

\n Fourth Quarter and Fiscal Year 2024 Financial Highlights<\/b>
\n [1]<\/sup>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n Baidu, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (In millions except per<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Q4\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Q3\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Q4\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n FY\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n FY\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n ADS, unaudited)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n YOY<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n YOY<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n \u00a0RMB\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0 \u00a0RMB\u00a0 \u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0RMB\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n US$<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n \u00a0RMB\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n RMB \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n US$<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Total revenues<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 34,951<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,557<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,124<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,675<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (2\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 134,598<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 133,125<\/span>\n <\/p>\n<\/td>\n

\n

\n 18,238<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (1\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Operating income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 5,392<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,925<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,917<\/span>\n <\/p>\n<\/td>\n

\n

\n 537<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (27\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,856<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,270<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,914<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (3\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Operating income
(non-GAAP) [2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 7,075<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,047<\/span>\n <\/p>\n<\/td>\n

\n

\n 691<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (29\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,433<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 26,234<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,594<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (8\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Net income to Baidu<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2,599<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,632<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,192<\/span>\n <\/p>\n<\/td>\n

\n

\n 711<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 100\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20,315<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,760<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,255<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 17\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income to Baidu
(non-GAAP)\u00a0[2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 7,755<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,886<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,709<\/span>\n <\/p>\n<\/td>\n

\n

\n 919<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (13\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,747<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,002<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,699<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (6\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Diluted earnings per
ADS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 6.77<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21.60<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14.26<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.95<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 111\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 55.08<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 65.91<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.03<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 20\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Diluted earnings per
ADS (non-GAAP) [<\/sup>2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 21.86<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16.60<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19.18<\/span>\n <\/p>\n<\/td>\n

\n

\n 2.63<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (12\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 80.85<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 76.85<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.53<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (5\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Adjusted EBITDA [2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 9,057<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,733<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,954<\/span>\n <\/p>\n<\/td>\n

\n

\n 953<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (23\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 35,823<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,078<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,532<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (8\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Adjusted EBITDA
margin<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 26\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 26\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 20\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 20\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 27\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 25\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 25\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n Baidu Core<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Q4\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Q3\u00a0\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Q4\u00a0\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n \u00a0FY\u00a0 \u00a0\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n FY\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (In millions, unaudited)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n YOY<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n YOY<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n RMB \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n RMB\u00a0 \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n RMB \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n US$<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n RMB \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n RMB \u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n US$<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Total revenues<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 27,488<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 26,524<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,698<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,795<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 1\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 103,465<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 104,712<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,345<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 1\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Operating income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 4,668<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,694<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,638<\/span>\n <\/p>\n<\/td>\n

\n

\n 498<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (22\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 18,825<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,478<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,668<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 3\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Operating income
(non-GAAP) [2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 6,197<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,652<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,647<\/span>\n <\/p>\n<\/td>\n

\n

\n 637<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (25\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,748<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,890<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,273<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (3\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Net income to Baidu
Core<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2,440<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,536<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,283<\/span>\n <\/p>\n<\/td>\n

\n

\n 724<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 117\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,401<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,431<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,210<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 21\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income to Baidu
Core (non-GAAP)\u00a0[2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 7,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,676<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,741<\/span>\n <\/p>\n<\/td>\n

\n

\n 924<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (10\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,418<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 26,335<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,608<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (4\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Adjusted EBITDA [2]<\/sup><\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 8,118<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,336<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,516<\/span>\n <\/p>\n<\/td>\n

\n

\n 893<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (20\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,863<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 30,587<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,190<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (4\u00a0%)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Adjusted EBITDA
margin<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 30\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 31\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 24\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 24\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 31\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 29\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 29\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n [1]<\/sup> Unless otherwise noted, RMB to USD was converted at an exchange rate of RMB 7.2993 as of December 31, 2024,
as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. Translations are
provided solely for the convenience of the reader.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n [2]<\/sup> Non-GAAP measures are defined in the Non-GAAP Financial Measures section (see also “Reconciliations of
Non-GAAP Financial Measures to the Nearest Comparable GAAP Measures” for more details).<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n Operational Highlights<\/b>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/p>\n

\n Corporate<\/i>\n <\/p>\n