Baidu (BIDU) Company Report

Analyst Coverage

Research analysts who have asked questions during Baidu earnings calls.

Alex Yao

JPMorgan Chase & Co.

9 questions for BIDU

Also covers: BABA, TCOM, TME +1 more

Gary Yu

Morgan Stanley

9 questions for BIDU

Also covers: BABA

Lincoln Kong

Goldman Sachs Group, Inc.

9 questions for BIDU

Also covers: BILI, IQ, NTES +3 more

Alicia Yap

Citigroup

8 questions for BIDU

Also covers: BABA, BZUN, DADA +10 more

Thomas Chong

Jefferies Financial Group Inc.

7 questions for BIDU

Also covers: ATHM, BABA, BEKE +22 more

Wei Xiong

UBS

6 questions for BIDU

Also covers: BZ, DADA, TCOM +2 more

Miranda Zhuang

Bank of America Merrill Lynch

5 questions for BIDU

Also covers: BILI, NTES

Xiaomeng Zhuang

Bank of America Securities

4 questions for BIDU

Ellie Jiang

Macquarie

2 questions for BIDU

Also covers: BABA, TCOM, TME

Wei Zhong

UBS Group AG

2 questions for BIDU

James Lee

Mizuho Securities

1 question for BIDU

Also covers: ABNB, BABA, CART +5 more

Zhengyu

UBS Group AG

1 question for BIDU

Latest news

Recent press releases and 8-K filings for BIDU.

Baidu Announces Q4 and FY 2025 Results

BIDU

Earnings

Share Buyback

Dividends

Baidu reported Q4 2025 total revenues of RMB32.7 billion ($4.68 billion), an increase of 5% quarter over quarter, and FY 2025 total revenues of RMB129.1 billion ($18.46 billion), a 3% decrease year over year.
For Q4 2025, non-GAAP net income attributable to Baidu was RMB3.9 billion ($559 million), with non-GAAP diluted earnings per ADS of RMB10.62 ($1.52). The company's operating cash flow turned positive in the second half of 2025, generating RMB3.9 billion combined.
Revenue from Baidu Core AI-powered Business surpassed RMB11 billion in Q4 2025, representing 43% of Baidu General Business revenue. AI Cloud Infra revenue was RMB5.8 billion in Q4 2025, and AI-native Marketing Services revenue grew 110% year over year to RMB2.7 billion.
Baidu's Board authorized a new share repurchase program of up to US$5 billion through December 31, 2028, and adopted its first-ever dividend policy. The spin-off and separate listing of Kunlunxin is also progressing.

1 day ago

6-K

Baidu Reports Q4 and Full Year 2025 Results, Announces Kunlunxin Spin-off, Share Repurchase, and Dividend Policy

BIDU

Earnings

Share Buyback

Dividends

Baidu reported Q4 2025 total revenues of RMB 32.7 billion, a 5% quarter-over-quarter increase, with core AI-powered business revenue exceeding CNY 11 billion. For the full year 2025, total revenues were RMB 129.1 billion, and non-GAAP operating income was RMB 15.0 billion.
The company announced a proposed spin-off and separate listing of its AI chip unit, Kunlunxin, and introduced a new $5 billion share repurchase program along with its first dividend policy.
AI Cloud revenue reached CNY 30 billion for the full year 2025, with AI Cloud infra revenue growing 34% year-over-year and subscription-based revenue from AI accelerator infrastructure growing 143% year-over-year in Q4.
Apollo Go delivered 3.4 million fully driverless operational rides in Q4 2025, a 200% year-over-year increase, and over 10 million fully driverless rides for the full year, expanding its global footprint to 26 cities.

1 day ago

Transcript

Baidu Reports Q4 and Full Year 2025 Results, Announces Share Repurchase and Dividend Policy

BIDU

Earnings

Share Buyback

Dividends

Baidu reported Q4 2025 total revenues of RMB 32.7 billion, a 5% quarter-over-quarter increase, with its core AI-powered business revenue exceeding CNY 11 billion. For the full year 2025, total revenues were RMB 129.1 billion, a 3% year-over-year decrease, while AI Cloud revenue reached CNY 30 billion.
The company announced a new $5 billion share repurchase program and adopted its first dividend policy. Additionally, Baidu is pursuing a proposed spin-off and separate listing of Kunlunxin, its AI chip investment.
Apollo Go delivered 3.4 million fully driverless operational rides in Q4 2025, with total rides increasing over 200% year-over-year, and expanded its global footprint to 26 cities. Revenue from AI Cloud infra grew 143% year-over-year in Q4 , and ERNIE Assistant's MAU surpassed 200 million in December.

1 day ago

Transcript

Baidu Reports Q4 and Full Year 2025 Results, Announces Kunlunxin Spin-off, Share Repurchase, and Dividend Policy

BIDU

Earnings

Share Buyback

Dividends

Baidu reported Q4 2025 total revenues of RMB 32.7 billion, a 5% quarter-over-quarter increase, with non-GAAP net income attributable to Baidu at RMB 3.9 billion and non-GAAP diluted EPS of RMB 10.62.
The company's core AI-powered business revenue exceeded RMB 11 billion in Q4 2025, representing 43% of Baidu general business revenue, driven by strong growth in AI Cloud infra revenue (up 34% year-over-year to RMB 20 billion in 2025) and AI applications (over RMB 10 billion in 2025).
Apollo Go delivered 3.4 million fully driverless operational rides in Q4 2025, with total rides increasing over 200% year-over-year, and expanded its global footprint to 26 cities as of February 2026.
Baidu announced a proposed spin-off and separate listing of its AI chip business, Kunlunxin, a new $5 billion share repurchase program, and adopted a dividend policy for the first time.

1 day ago

Transcript

Baidu Announces Fourth Quarter and Fiscal Year 2025 Results

BIDU

Earnings

Share Buyback

Dividends

Baidu reported Q4 2025 total revenues of RMB32.7 billion ($4.68 billion) and FY 2025 total revenues of RMB129.1 billion ($18.46 billion). Q4 revenue increased 5% quarter-over-quarter, while FY revenue decreased 3% year-over-year.
For Q4 2025, non-GAAP net income attributable to Baidu was RMB3.9 billion ($559 million), with non-GAAP diluted earnings per ADS of RMB10.62 ($1.52). For the full year 2025, non-GAAP net income attributable to Baidu was RMB18.9 billion ($2.71 billion), and non-GAAP diluted earnings per ADS was RMB53.41 ($7.64).
Revenue from Baidu Core AI-powered Business reached RMB11.3 billion in Q4 2025 (43% of Baidu General Business revenue) and RMB40.0 billion for FY 2025, marking a 48% year-over-year increase for the full year.
The Board of Directors authorized a new share repurchase program of up to US$5 billion effective through December 31, 2028, and adopted the company's first-ever dividend policy.

2 days ago

Press Release

Baidu and Uber Partner to Launch Apollo Go Autonomous Ride-Hailing in Dubai

BIDU

Product Launch

New Projects/Investments

Baidu and Uber, in partnership with Dubai's Roads and Transport Authority (RTA), announced the next phase of their global partnership to bring the Apollo Go autonomous ride-hailing service to the Uber platform in Dubai.
The service is expected to launch in the coming month (February/March 2026), making fully autonomous vehicles available via the Uber app in select locations within the Jumeirah area.
This deployment aligns with Dubai's ambitious goal of having 25% of all transportation trips be autonomous by 2030.
Apollo Go has logged over 240 million autonomous kilometers, with over 140 million kilometers completed in fully driverless mode, and has completed more than 17 million cumulative rides as of October 31, 2025.

Feb 10, 2026, 7:00 AM

Press Release

Baidu Announces New Share Repurchase Program and Dividend Policy

BIDU

Share Buyback

Dividends

Baidu's Board of Directors has approved a new US$5 billion share repurchase program effective through December 31, 2028.
The Board has also approved the adoption of a dividend policy for the Company's ordinary shares, with the first payment expected in 2026.
Future dividend distributions will primarily be supported by operating profits.

Feb 5, 2026, 12:03 PM

6-K

Baidu Announces First Dividend Policy and New $5 Billion Share Buyback

BIDU

Dividends

Share Buyback

Baidu announced its first-ever dividend policy and approved a new $5 billion share buyback program that runs through December 2028, marking a shift toward returning capital to shareholders.
The first dividend is expected in 2026, and repurchases will be executed in the open market, supported by a strong cash position of about $42.7 billion as of September 2025.
This move follows the completion of a prior $5 billion buyback program (2023–2025) and aligns Baidu more closely with domestic peers like Alibaba and Tencent on shareholder returns.
Baidu’s U.S. and Hong Kong listings rose by more than 5% in after-hours and pre-market trading following the announcement.
Analysts maintain a 'Strong Buy' consensus with an average price target of $169.59, implying 22.9% upside from recent levels.

Feb 5, 2026, 5:04 AM

Bloomberg

Baidu Announces New Share Repurchase Program and Dividend Policy

BIDU

Dividends

Share Buyback

Baidu's Board of Directors has approved a new US$5 billion share repurchase program, effective through December 31, 2028.
The Board also approved the adoption of a dividend policy for the Company's ordinary shares for the first time, which may include regular and/or special distributions.
The Board expects to declare the first payment of dividend in 2026.
These initiatives aim to further enhance shareholder returns.

Feb 5, 2026, 1:00 AM

Press Release

Baidu and K2 Launch Fully Autonomous Ride-Hailing Service

BIDU

New Projects/Investments

Product Launch

Baidu's Apollo Go and K2's AutoGo have officially launched a fully autonomous commercial ride-hailing service in Abu Dhabi, UAE, which is now available via the AutoGo app.
The service initially operates on Yas Island, with phased expansion planned for Reem, Al Maryah, and Saadiyat Islands.
This launch follows securing a fully driverless commercial permit in mid-November 2025 and is a critical step toward the partners' goal of deploying hundreds of vehicles by 2026 to build Abu Dhabi's largest fully driverless fleet.
As of October 31, 2025, Apollo Go has logged over 240 million autonomous kilometers, with more than 140 million kilometers in fully driverless mode, and completed over 17 million cumulative rides.