Overview
- Net profit fell to 1.78 billion yuan, missing estimates, on revenue of 32.74 billion yuan; full-year revenue slipped 3% and net profit dropped 76% to 5.59 billion yuan.
- AI-powered revenue rose 48% year over year to 11.3 billion yuan, lifting its share of the mix to 43%, with AI cloud up 34% to 5.8 billion yuan.
- Apollo Go completed 3.4 million rides in the quarter, more than tripling year over year, as the service began overseas testing programs.
- Ernie, Baidu’s AI assistant, reached about 202 million monthly active users in December.
- The board authorized up to $5 billion in share repurchases and set a dividend framework targeting payments by end-2026; ADRs fell about 2.7% in premarket trading as Baidu reported a cash and investments balance of 294.1 billion yuan.