Baidu Announces Third Quarter 2025 Results

Core Insights - Baidu reported its third-quarter financial results for 2025, highlighting the transformative impact of AI across its business portfolio, particularly in AI Cloud and autonomous driving services [2][3][6]. Financial Performance - Total revenues for Q3 2025 were RMB 31.2 billion ($4.38 billion), a decrease of 7% year-over-year [9]. - Operating loss was RMB 15.1 billion ($2.12 billion), with Baidu Core operating loss at RMB 15.0 billion ($2.10 billion) [12]. - Net loss attributable to Baidu was RMB 11.2 billion ($1.58 billion), with diluted loss per ADS at RMB 33.88 ($4.76) [14]. - Non-GAAP net income attributable to Baidu was RMB 3.8 billion ($530 million), with a non-GAAP diluted earnings per ADS of RMB 11.12 ($1.56) [14]. Business Segments - AI Cloud revenue reached RMB 4.2 billion, up 33% year-over-year, driven by increased enterprise adoption [18]. - Revenue from AI-native marketing services surged 262% year-over-year to RMB 2.8 billion, indicating strong demand for performance-driven AI solutions [18]. - Apollo Go, Baidu's autonomous ride-hailing service, provided 3.1 million fully driverless rides in Q3 2025, marking a 212% increase year-over-year [6][7]. Strategic Developments - Baidu introduced a new AI-native view to better reflect its AI-powered assets and enhance investor visibility [8]. - The company launched ERNIE 5.0, an advanced omni-modal foundation model, showcasing its commitment to AI innovation [6]. - Baidu's ESG evaluations improved, and it was recognized in Fortune's Change the World 2025 list for its positive social impact through Apollo Go [6]. Operational Highlights - As of October 2025, Apollo Go's global operations expanded to 22 cities, achieving 100% fully driverless operations in all cities where it operates [7]. - Baidu App's monthly active users reached 708 million, reflecting a 1% year-over-year increase [18]. Cash and Investments - Total cash and investments as of September 30, 2025, were RMB 296.4 billion ($41.64 billion) [16]. - Operating cash flow was RMB 1.3 billion ($176 million), with an adjusted figure excluding iQIYI at RMB 1.5 billion ($214 million) [16].