🔹 Revenue: RMB32.45B (+3% YoY) 🟢 vs. RMB31.03B est.
🔹 Adj. EPS: RMB18.54 (▼7% YoY) 🟢 vs. RMB13.84 est.
Segment Performance
🔹 Baidu Core Revenue: RMB25.46B (+7% YoY)
🔹 AI Cloud up 42% YoY
🔹 Online Marketing down 6% YoY
🔹 iQIYI Revenue: RMB7.2B (▼9% YoY)
Operating Highlights
🔸 AI Cloud revenue grew +42% YoY; Baidu upgraded Qianfan MaaS platform and released PaddlePaddle v3.0
🔸 Apollo Go (robotaxi) expanded to Dubai and Abu Dhabi, and surpassed 11M total rides; Q1 rides grew +75% YoY
🔸 Baidu App MAUs reached 724M; UP +7% YoY
🔸 Managed Page accounted for 47% of online marketing revenue
Strategic / Capital
🔸 Returned $445M to shareholders in Q1
🔸 Negative FCF due to AI investments | Net cash: RMB159B
Executive Commentary
🔸 CEO: “AI Cloud momentum and Apollo Go’s global expansion show our AI-first strategy is working.”
🔸 CFO: “Investing in AI to drive long-term growth.”