36氪 was informed that before the US stock market on May 26, Baidu will release its first quarter 2022 financial report.
Looking back on last year’s performance, Baidu’s non-advertising business grew 71% year-on-year, driving Baidu’s total annual revenue to 124.49 billion yuan, a year-on-year increase of 16%. Among them, the revenue of Intelligent Cloud in the fourth quarter was 5.2 billion yuan, a year-on-year increase of 60%. In 2021, the total revenue for the whole year was 15.1 billion yuan, a year-on-year increase of 64%.
According to IDC data, Baidu has ranked first among AI public cloud service providers for five consecutive times. At present, Baidu Smart Cloud has been implemented in transportation, industrial manufacturing, public services and energy industries. In the field of transportation, in 2021, the number of cities where Baidu ACE Intelligent Transportation has signed tens of millions of orders will increase from 14 a year ago to 35.
At the first quarter earnings call in 2021, Baidu founder, chairman and CEO Li Yanhong set a goal: With the growth of artificial intelligence business, Baidu’s non-advertising revenue will exceed advertising revenue in the next three years.
This goal is now being steadily achieved.
In terms of autonomous driving, Robin Li revealed in the last quarterly earnings conference call that by the end of 2021, according to internal estimates, Baidu’s intelligent driving business ASD and in-vehicle infotainment system Xiaodu in-vehicle OS, etc., have obtained fixed-point and contracted projects amounting to about 8 billion. Yuan.
According to public information, Baidu’s self-driving travel service platform “Radish Run” officially landed in Wuhan Economic and Technological Development Zone, Wuzhen, Yangquan, Shenzhen and other places. In the fourth quarter of last year, Carrot Run provided 213,000 orders. In 2021, Baidu’s urban intelligent transportation ranks first in the industry with 1.68 billion end-user orders.
Citibank said that aside from short-term uncertainty, it remains bullish on the long-term growth prospects of cloud and AI, as well as potential advertising benefits from policy tailwinds from connectivity and Baidu’s cash flow strength.
Looking forward to the first quarter financial report, Baidu is expected to maintain a high growth rate of non-advertising business revenue, and the second and third growth curves will continue to rise.
Benchmark noted that despite being impacted by measures such as regional blockades late in the first quarter, Baidu is expected to be on track for the quarter given Baidu’s consolidated advertising base of geographic and category diversity, as well as its conservative guidance. In addition, Benchmark sees potential upside from the current profit margin estimate (core non-GAAP OP of 4.8%) as the company adopts more effective channel management and optimization of its headcount and other cost structure optimization methods.
In terms of R&D expenses, Baidu’s core R&D expenses in 2021 will be 22.1 billion yuan, accounting for 23% of its core revenue. In 2020, the proportion will be 21.4%, which will be further improved.
As a leading domestic Internet company, Baidu’s technology investment will reflect long-term value in the entire industry.
Take Baidu’s plan to cultivate 5 million AI talents as an example. Up to now, Baidu has cultivated nearly 2 million talents for the AI industry. In the future, Baidu will continue to increase investment to promote school-enterprise cooperation and industry-education integration for colleges and universities, and provide a full set of teaching resources. With the support of computing power of 100 million yuan, jointly build a curriculum system with colleges and universities, publish AI textbooks, hold college teacher training courses, and various AI competitions.
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- 2022-05-26Baidu ‘s revenue in the first quarter was 28.4 billion yuan, revenue and net profit exceeded expectations
- 2022-03-01Baidu Smart Cloud’s 2021 revenue of 15.1 billion yuan increased by 64% year-on-year
- 2021-11-17Baidu released its third quarter financial report: total revenue of 31.9 billion yuan, net profit of 5.09 billion yuan
- 2021-08-12Baidu Q2 financial report exceeded expectations: revenue of 31.4 billion yuan and net profit of 5.4 billion yuan
- 2021-03-09Baidu passed the listing hearing of the Hong Kong Stock Exchange
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