Baidu, Inc. - BIDU STOCK NEWS

Baidu, Inc. (NASDAQ: BIDU) has cemented its leadership in China's autonomous driving sector, achieving top results in the 2020 Beijing Autonomous Vehicles Road Test Report for the third year in a row. Baidu Apollo led across all testing categories, operating 55 autonomous vehicles that completed over 1.1 million kilometers, representing 95.92% of the city's total testing distance. Baidu is the first company authorized to conduct fully driverless tests on public roads. Furthermore, the Apollo Go Robotaxi service saw positive reception, with over 90% of users expressing intent to use it again.

Baidu, Inc. (Nasdaq: BIDU), a prominent AI company, will release its financial results for Q4 and fiscal year 2020 on February 17, 2021, after U.S. market hours. The earnings conference call is scheduled for 8:15 PM EST that same day. Interested participants must register in advance to receive dial-in details and a unique ID. The conference will be accessible via a live and archived webcast on Baidu's investor relations website.

Baidu, Inc. (Nasdaq: BIDU) will hold an extraordinary general meeting of shareholders on March 1, 2021, in Beijing. A key proposal for consideration is the one-to-eighty share subdivision, allowing ten American depositary shares (ADSs) to represent eight Class A ordinary shares. This change is designed to maintain the percentage interest of ADS holders and is deemed neutral for the trading price on Nasdaq. The record date for shareholders entitled to vote is set for January 28, 2021. More details are available on Baidu's investor relations website.

Baidu, Inc. (NASDAQ: BIDU) announced plans to create an intelligent electric vehicle (EV) company, partnering with Zhejiang Geely Holding Group. Baidu will provide advanced intelligent driving capabilities, while Geely will leverage its automotive design and manufacturing expertise. This collaboration aims to meet the increasing demand for intelligent EVs in China, the largest market for such vehicles. Baidu's CEO highlighted the significant investment in AI over the past decade, reinforcing their commitment to smart transportation and the development of autonomous driving technologies.

Baidu, Inc. (NASDAQ: BIDU) unveiled new intelligent vehicle solutions for automakers during the Apollo Ecosystem Conference, emphasizing its commitment to revolutionizing autonomous driving. The company showcased advanced products including the Apollo Navigation Pilot (ANP) and intelligent cabin solutions, which have been integrated into over one million vehicles. Additionally, Baidu plans to expand its Apollo Go robotaxi service to approximately 30 cities in the next three years, having already served over 210,000 passengers. This initiative highlights Baidu's role in transforming urban transportation and enhancing smart mobility.

Baidu, Inc. (NASDAQ: BIDU) announced an increase in its 2020 Share Repurchase Program from US$3 billion to US$4.5 billion. This program, effective until December 31, 2022, allows repurchases of shares on the open market or through other legal means. The decision reflects the company's confidence in its value and aims to enhance shareholder returns. The board will periodically review the program and may adjust its terms as necessary.

Baidu's Executive VP, Dou Shen, highlighted the rise of the intelligent economy during his keynote at Web Summit 2020. Shen noted that Baidu's mobile ecosystem is evolving to meet the demands of this trend, driven by AI technology. He identified three growth opportunities: service-oriented transformations, enhanced human connections, and the digitalization of industries. Baidu App has 544 million monthly active users, up 12% year-over-year, showcasing its effectiveness as a comprehensive service portal beyond traditional search services.

Baidu, Inc. (NASDAQ: BIDU) has been recognized as the top holder and applicant of AI-related patents in China, with 2,682 patents granted and 9,364 applications as of October 2020. This achievement, reported by China's Ministry of Industry and Information Technology, reflects Baidu's leadership in various AI sub-fields, including deep learning and autonomous driving. The company's technology has been applied across its business segments, enhancing products like the Apollo Go Robotaxi service and intelligent healthcare solutions, thereby driving innovation and economic growth.

Baidu, Inc. (NASDAQ: BIDU) reported third-quarter 2020 results, showing revenue growth of 1% year-over-year to RMB 28.2 billion ($4.16 billion). Operating income surged 69% year-over-year, reaching RMB 6.2 billion ($907 million), with an adjusted EBITDA margin of 32%. Strong performance in AI and cloud services contributed to the growth, alongside a remarkable turnaround in advertising revenue. Baidu's cash and short-term investments totaled RMB 146 billion ($21.5 billion). For Q4 2020, Baidu anticipates revenue between RMB 28.6 billion ($4.2 billion) and RMB 31.3 billion ($4.6 billion).