Chinese tech giant Baidu has announced its financial results for the third quarter, showcasing robust revenue growth that surpassed analyst expectations. The company reported a year-on-year revenue increase of 6%, totaling 34.45 billion yuan ($4.72 billion) for the quarter ending on September 30. This figure slightly exceeded the estimated revenue of 34.33 billion yuan.
Baidu’s online marketing revenue witnessed a growth of 5% compared to the previous year, while non-online marketing revenue experienced a 6% increase over the same period. This continued the positive trend from the previous quarter, where revenue surged 15% year-on-year, with substantial growth in both online and non-online marketing revenue.
The positive financial results are a testament to Baidu’s resilience in the face of a challenging economic climate, as acknowledged by Robin Li, Baidu CEO and co-founder. Despite global uncertainties, the company has demonstrated its ability to maintain stable margins and prioritize investments in artificial intelligence (AI). Baidu’s ongoing investments in AI have driven technological advancements and product innovations, particularly in generative AI and foundation models.
Moreover, Baidu’s Apollo Go robotaxi business witnessed considerable growth, with a significant increase in rides. In the third quarter alone, the business recorded 821,000 rides, up from 714,000 in the previous quarter. The rise in rides reflects the increasing acceptance and demand for autonomous vehicles.
Looking ahead, Baidu remains committed to investing in AI while maintaining a strong focus on efficiency and strategic resource allocation. The company aims to further enhance its technological capabilities and expand its AI offerings. Baidu’s dedication to innovation and its ability to adapt to market challenges position the company favorably for future growth and success.
1. What was Baidu’s revenue growth in the third quarter of this year?
Baidu’s revenue grew by 6% year-on-year in the third quarter, reaching 34.45 billion yuan ($4.72 billion).
2. How did Baidu’s online marketing revenue perform in the third quarter?
Online marketing revenue at Baidu increased by 5% compared to the same period last year.
3. What factors contributed to Baidu’s revenue growth?
Baidu experienced growth in both online and non-online marketing revenue, which fueled its overall revenue growth for the quarter.
4. What investments is Baidu prioritizing?
Baidu is prioritizing investments in artificial intelligence (AI), particularly in generative AI and foundation models, to drive technological advancements and product innovations.
5. How did Baidu’s robotaxi business perform in the third quarter?
Baidu’s Apollo Go robotaxi business reported significant growth, with the number of rides increasing from 714,000 in the previous quarter to 821,000 in the third quarter.
– [CNBC Pro](https://www.cnbc.com/pro/)