百度 Baidu, Inc.（BIDU）2025年第四季度及全年财报「NASDAQ」（英文版）（17页）.pdf

1、 1 Baidu Announces Fourth Quarter and Fiscal Year 2025 Results BEIJING,China,Feb 26,2026 Baidu,Inc.(NASDAQ:BIDU and HKEX:9888(HKD Counter)and 89888(RMB Counter),(“Baidu”or the“Company”),a leading AI company with strong Internet foundation,today announced its unaudited financial results for the quart

2、er and fiscal year ended December 31,2025.“2025 marked a pivotal year as AI became the new core of Baidu.AI Cloud Infra gained strong momentum,with our differentiated full-stack end-to-end AI capabilities earning growing enterprise recognition.Our portfolio of AI applications continued to scale,addr

3、essing diverse needs across enterprises and individuals.Apollo Go further reinforced its global leadership,operating at industry-leading scales while accelerating international expansion into new markets.Meanwhile,AI-native Marketing Services continued to grow,unlocking new possibilities for the lon

4、g term,”said Robin Li,Co-founder and CEO of Baidu.As our AI-first strategy takes clear shape,were confident in our ability to create lasting value in the AI era.We delivered several key achievements this quarter.First,revenue from Baidu Core AI-powered Business1 exceeded RMB 11 billion in Q4,account

5、ing for 43%of Baidu General Business2 revenue.Second,total revenue of Baidu General Business grew 6%sequentially and Non-GAAP operating income of Baidu General Business increased 28%quarter over quarter to RMB 2.8 billion.Third,operating cash flow for Baidu turned positive in the second half of 2025

6、,generating RMB 3.9 billion combined,compared to negative cash flow in the first half.Fourth,the Kunlunxin spin-off and separate listing is progressing,which we believe will unlock significant value for shareholders.Finally,we announced a new share repurchase program with up to US$5 billion authoriz