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百度Q2業績超預期，實現扭虧為盈
AceCamp本营
joined discussion · Aug 30, 2022 19:22

[Quick Comment from Our Camp] Baidu's Q2 revenue and net profit both exceeded market expectations. Focus on the recovery of the online advertising business and continuous margin improvement in the second half of the year, while long-term attention should be paid to the growth of AI cloud services and intelligent driving.

$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$
Highlights of Q2 2022 Results
Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue was RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion.
Operating profit under non-GAAP was RMB 5.49 billion,are higher thanversus market expectations of RMB 4 billion.
Net profit under non-GAAP was RMB 5.54 billion,are higher thanversus market expectations of RMB 3.8 billion.
Operating Summary
Enterprises
Forbes China has included Baidu in the 2022 China ESG 50 list.
AI Cloud
According to IDC's H2 2021 report on China’s public cloud market published in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers.
As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million.
intelligent driving
RoboSense provided 287,000 rides in Q2 2022. On July 20, 2022, RoboSense reached a cumulative total of 1 million rides, serving passengers on open roads.
On August 8, 2022,萝卜快跑 (Luobo Kuaipao) began offering fully driverless ride-hailing services on open roads and obtained permits to charge passengers in Chongqing and Wuhan. This made Luobo Kuaipao the first and only service in China to offer ride-hailing without any human drivers present in the vehicle.
On July 20, 2022, Luobo Kuaipao was approved to charge for unmanned ride-hailing services on public roads in Beijing's Yizhuang area.
Luobo Kuaipao expanded to Hefei (Anhui) on July 11, 2022, and Chengdu (Sichuan) on July 22, 2022. It has now launched in more than ten cities across China, including all first-tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, among other major cities.
In July 2022, Baidu unveiled its sixth-generation autonomous taxi, Apollo RT6. The RT6 is the first steering wheel-free, all-electric model specifically designed for fully driverless autonomous driving. Apollo RT6 differs from previous generations which were retrofitted on traditional vehicles.
Other Growth Initiatives
According to IDC and Canalys, Xiaodu maintained its top position in smart speaker shipments in China during Q1 2022.
Mobile Ecosystem
In June, the Baidu App reached 628 million MAUs, an 8% increase year-over-year, with daily logged-in users reaching 84%.
Hosted page revenue increased by 10% year-over-year, accounting for 49% of Baidu Core's online marketing revenue in Q2 2022.
iQIYI
iQIYI’s average daily total subscriptions for this quarter were 98 million, compared to 99 million in Q2 2021 and 101 million in Q1 2022.
Financial Performance for the Second Quarter of 2022
The total revenue was 29.65 billion yuan, a year-on-year decrease of 5%.are higher thanThe market expects 29.4 billion yuan. We believe that as the pandemic is gradually brought under effective control in the second half of the year and macroeconomic stimulus policies are gradually implemented, the company's fundamentals are expected to stabilize and recover gradually.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Among themBaidu CoreRevenue was 23.16 billion yuan, a year-on-year decrease of 4%.are higher thanThe market expects 22.8 billion yuan. Online marketing revenue was 17.1 billion yuan, a year-on-year decrease of 10%, mainly due to the resurgence of Covid-19 in certain cities in China. Non-online marketing revenue was 6.1 billion yuan, a year-on-year increase of 22%, with the main growth drivers being cloud and other artificial intelligence businesses.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
‧ iQIYIRevenue was 6.66 billion yuan, a year-on-year decrease of 12.5%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Sales costThe amount is 15.17 billion yuan, a year-on-year decrease of 4.6%, mainly due to the decline in content costs, which was partially offset by the increase in personnel-related expenses and other costs associated with the new artificial intelligence business.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Selling and administrative expensesamounted to RMB 4.78 billion, a year-on-year decrease of 16.2%, mainly due to the reduction in channel spending and promotional marketing.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
R&D expensesamounted to RMB 6.29 billion, a year-on-year increase of 0.1%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Under non-GAAPOperating profitamounted to RMB 5.49 billion,are higher thanmarket expectation was RMB 4 billion. Under non-GAAPOperating marginimproved to 18.5%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Baidu Core operating profit under non-GAAP was RMB 5.12 billion,are higher thanmarket expectation was RMB 3.9 billion, and Baidu Core operating margin under non-GAAP was 22.1%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Under non-GAAP,Net profitRMB 5.54 billion,are higher thanmarket expected RMB 3.8 billion. Under non-GAAP, diluted earnings per American Depositary Share were RMB 15.79,are higher thanmarket expected RMB 10.92.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Under non-GAAP,net profit attributable to Baidu Corewas RMB 5.45 billion,are higher thanmarket expected RMB 3.46 billion, with Baidu Core’s non-GAAP net profit margin at 23.5%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Net profit attributable to iQIYI was RMB 0.783 billion, positive for two consecutive quarters.
Adjusted EBITDARMB 7.05 billion,are higher thanThe market expects RMB 5.51 billion, with an adjusted EBITDA margin of 23.8%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Baidu Core's adjusted EBITDAwas RMB 6.60 billion,are higher thanthe market expects RMB 5.29 billion, with Baidu Core’s adjusted EBITDA margin at 28.5%.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
As of June 30, 2022,cash, cash equivalents, restricted cash, and short-term investments net amountwas RMB 189.4 billion.
$Baidu (BIDU.US)$$BIDU-SW (09888.HK)$ Highlights of Q2 2022 Results ‧ Total revenue was RMB 29.65 billion, a year-on-year decrease of 5%,are higher thanMarket expectation was RMB 29.4 billion. Baidu Core revenue reached RMB 23.16 billion, a year-on-year decrease of 4%,are higher thanMarket expectation was RMB 22.8 billion. ‧ Operating profit under non-GAAP was RMB 5.49 billion,are higher thanMarket expectation was RMB 4 billion. ‧ Net profit under non-GAAP was RMB 5.54 billion,are higher thanMarket expectation was RMB 3.8 billion. Operating Summary Enterprises Forbes China included Baidu in the 2022 China ESG 50 list. AI Cloud According to IDC's report on the Chinese public cloud market for the second half of 2021, released in June 2022, Baidu AI Cloud once again ranked first among AI cloud providers. As of the end of Q2 2022, Baidu ACE Intelligent Transportation had been adopted by 51 cities, up from 20 cities a year ago, with contracts valued at over RMB 10 million. intelligent driving RoboTaxi provided 287,000 rides in Q2 2022. By July 20, 2022, RoboTaxi’s cumulative rides reached 10...
Despite the challenging macro environment brought by Covid-19, Baidu Core delivered robust revenue in Q2. Baidu AI Cloud maintained rapid growth momentum, with a year-over-year increase of 31% and a quarter-over-quarter increase of 10%. RoboSense further solidified its position as the world’s largest autonomous driving ride-hailing service provider. We believe AI Cloud and autonomous driving are expected to become the main long-term revenue growth drivers for the company. Online advertising still faced pressure in Q2, but with the macroeconomic environment gradually stabilizing, we expect the company’s advertising revenue to stabilize and recover in the second half of the year. As the company continues to optimize costs and improve operational efficiency, its profit margins are expected to rise sustainably.
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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