Welcome to our dedicated page for Baidu news (Ticker: BIDU), a resource for investors and traders seeking the latest updates and insights on Baidu stock.
Baidu, Inc. (NASDAQ: BIDU, HKEX: 9888), founded in 2000 by Robin Li, is China's largest internet search engine, holding an 84% market share as of September 2021 according to Statcounter. The company's core business revolves around providing intelligent and relevant search results tailored specifically to Chinese language and culture. Baidu's search engine facilitates tens of billions of queries daily, offering users various ways to find and share information.
Baidu's business extends beyond search engine services into several technology-driven sectors. The company is a frontrunner in artificial intelligence (AI), with significant growth initiatives in AI Cloud, video streaming services, voice recognition technology, and autonomous driving. Baidu's AI products, like the ERNIE Bot, are widely used and recognized for their advanced capabilities in language processing and generative AI.
Financially, Baidu demonstrated robust performance. In Q4 2023, the company reported total revenues of RMB35.0 billion ($4.92 billion), a 6% year-over-year increase. The AI Cloud business, in particular, has been a major revenue driver. Baidu's operational efficiency continues to improve, with a non-GAAP operating income of RMB7.1 billion ($996 million) and a non-GAAP net income of RMB7.8 billion ($1.09 billion) for Q4 2023.
Baidu's autonomous driving platform, Apollo Go, achieved a milestone by launching 24/7 services in Wuhan, making it China's first provider to offer round-the-clock autonomous rides. Additionally, Baidu released new AI advancements at its annual Baidu Create conference, showcasing models like ERNIE and opening up new opportunities for developers.
Partnerships and community contributions remain a cornerstone of Baidu's strategy. The company is committed to fostering a thriving AI ecosystem through competitions like the ERNIE Cup Innovation Challenge, which supports entrepreneurial teams in developing AI-native applications with substantial funds and resources.
Overall, Baidu stands out as a leading AI company with a strong internet foundation, continuously innovating and expanding its services to meet the evolving needs of users and developers alike.
Baidu reported its unaudited financial results for Q3 2022, achieving total revenues of RMB 32.5 billion ($4.57 billion), up 2% year-over-year. Baidu Core's revenue grew 2% to RMB 25.2 billion ($3.55 billion), driven by recovery in online marketing and 25% growth in AI Cloud revenue. Non-GAAP operating profit surged 14% to RMB 6.7 billion, aided by cost optimization. Noteworthy advancements in intelligent driving were marked by Apollo Go's expansion, completing over 474,000 rides. However, net income dropped to RMB 146 million, reflecting a significant year-over-year decline.
Baidu, Inc. (Nasdaq: BIDU) will announce its Third Quarter 2022 financial results on November 22, 2022, before the U.S. market opens. An earnings conference call is scheduled for 7:30 AM EST on the same day. Investors can pre-register using the provided link to receive dial-in information. A live and archived webcast will also be available on Baidu's investor relations website. Baidu, founded in 2000, aims to simplify technology for users and continues to be a leader in AI with a strong Internet foundation.
Baidu, a prominent AI company, reported its unaudited financial results for Q2 2022, revealing total revenues of RMB 29.6 billion ($4.43 billion), a 5% decline year-over-year. Baidu Core generated RMB 23.2 billion ($3.46 billion) in revenue, down 4%, impacted by Covid-19. However, Baidu AI Cloud grew 31% year-over-year. Net income attributable to Baidu reached RMB 3.6 billion ($543 million), with diluted earnings per ADS at RMB 9.97 ($1.49). Operating margin improved to 22%. Apollo Go solidified its leadership in autonomous ride-hailing, completing 287K rides in Q2.
Baidu has received permits to operate fully driverless robotaxi services in China, making it the first company to do so publicly without human drivers. Authorized to collect fares in Chongqing and Wuhan, these services will operate during the day in designated areas. This milestone indicates a significant advancement in China's autonomous driving landscape, recognized by regulators. Baidu's Apollo Go has become the world's largest robotaxi service, reaching over one million orders in total.
Baidu, Inc. (Nasdaq: BIDU) will announce its financial results for Q2 2022 on August 30, 2022, before U.S. market opens. An earnings conference call will take place at 8:00 AM ET on the same day. Participants must pre-register to obtain the dial-in information. The call will be accessible via a live and archived webcast on Baidu's investor relations website. This announcement marks the company's ongoing engagement with investors as it continues to navigate the evolving AI landscape.
Baidu, Inc. (NASDAQ: BIDU) showcased major advancements at its annual technology conference, Baidu World 2022, held on July 21, 2022. Highlights included the launch of the world's first large-scale AI model for aerospace, developed with China Aerospace, enhancing research efficiency. The upgraded Kaiwu 2.0 platform aims to drive AI adoption across various industries, while the Apollo RT6 autonomous vehicle is set to offer driverless taxi services at reduced costs. The event emphasized Baidu's commitment to technological innovation and its role in the AI landscape.
Baidu has unveiled its next-generation autonomous vehicle, the Apollo RT6, designed for complex urban environments and featuring a detachable steering wheel. With a production cost of 250,000 RMB (approx. $37,000), Apollo RT6 aims to enhance Baidu's Apollo Go ride-hailing service, set to expand to tens of thousands of units across China. The vehicle boasts L4 autonomous driving capability, 1200 TOPS of computing power, and advanced sensor architecture. Baidu has completed over 32 million kilometers in testing, positioning itself as the world's largest robotaxi service provider.
Baidu, Inc. (NASDAQ: BIDU) will host its annual Baidu World conference virtually on July 21, 2022, focusing on the theme of Deepening AI innovation for social growth. The event will highlight Baidu's advancements in autonomous driving, AI Cloud, and large-scale AI models. Key announcements include a new large-scale AI model tailored for a specific industry and an update to the Kaiwu platform, which has rapidly gained market share in China's industrial Internet sector. Baidu's Apollo Go platform, having provided 196,000 rides, is set for expanded robotaxi deployment.
On June 8, 2022, JIDU, a joint venture of Baidu and Geely, unveiled its concept robocar ROBO-01, marking a significant step toward the era of autonomous vehicles. The car features a futuristic design and state-of-the-art technology, including a 3D borderless screen, zero-gravity seating, and advanced AI capabilities. JIDU claims the ROBO-01 is 90% similar to its upcoming production model, set to launch in fall 2022. The robocar is equipped with sophisticated autonomous driving technology, boasting extensive testing across urban environments in China.
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