Overview
- Fourth-quarter revenue fell 4% year over year to 32.74 billion yuan, marking a third straight quarterly decline.
- Net profit dropped 66% to 1.78 billion yuan, coming in below analyst expectations.
- AI-powered businesses generated about 11.3 billion yuan in the quarter, up 48% and equal to 43% of general business revenue.
- Baidu’s board approved up to $5 billion in share repurchases, and the company expects to pay its first dividend by the end of 2026.
- Apollo Go logged 3.4 million driverless rides in Q4 and started overseas pilots, while Baidu’s ADRs fell after the results and year-end cash and investments stood near 294.1 billion yuan.