$BIDU (-0,3 %) | Baidu Q3 Earnings Highlights:
🔹 Non-GAAP Diluted EPS: ¥16.60 (Est. ¥17.59) 😕
🔹 Revenue: ¥33.56B (Est. ¥33.61B) 🟡; DOWN -3% YoY
🔹 Baidu Core Revenue: ¥26.52B (Est. ¥26.27B) 🟢; Flat YoY
🔹 iQIYI Revenue: ¥7.2B (Est. ¥7.26B) 🟡; DOWN -10% YoY
Operating Metrics:
🔹 Non-GAAP Operating Income: ¥7.01B (Est. ¥6.78B) 🟢; DOWN -8% YoY
🔹 Adjusted EBITDA: ¥8.73B (Est. ¥7.99B) 🟢; DOWN -8% YoY, DOWN -5% QoQ
SEGMENTS:
🔹Online Marketing: ¥18.8B (Est. ¥20.19B) 🔴; DOWN -4% YoY
🔹Non-Online Marketing: ¥7.7B; UP +12% YoY
🔹Baidu Core Operating Income: ¥5.69B (Est. ¥6.19B) 🔴; UP +4% YoY, UP +2% QoQ
🔹Baidu Core Non-GAAP Operating Income: ¥6.65B (Est. ¥6.19B) 🟢; Flat YoY, DOWN -5% QoQ
Operational Highlights:
🔸 Baidu App MAUs: 704M; UP +6% YoY
🔸 Apollo Go Rides: 988K in Q3; UP +20% YoY
🔸 Fully Driverless Rides (Apollo Go): Over 70% of rides in Q3; increased to 80% by October
🔸 ERNIE API Calls: 1.5B daily in November; UP from 600M in August
Cost and Expenses:
🔹 Cost of Revenue: ¥16.4B; UP +1% YoY
🔹 SG&A Expenses: ¥5.9B; UP +2% YoY
🔹 R&D Expenses: ¥5.4B; DOWN -12% YoY
Strategic Developments:
🔸 Upgraded to 'A' ESG rating by MSCI in October 2024
🔸 Continued leadership in China's AI Cloud market
🔸 Deployment of RT6 autonomous vehicles across multiple cities
CEO Robin Li's Commentary:
🔸 "Our AI capabilities continue to gain market recognition, and Apollo Go maintains its leadership in autonomous ride-hailing. Despite near-term challenges in the online marketing business, we remain confident in our AI-focused strategy."
CFO Junjie He’s Insights:
🔸 "Efficient cost management and operational strides in AI Cloud and Apollo Go have underpinned stable margins and validated our focus on AI-driven business models."