Baidu Group-SW (09888) opened over 3% higher following its earnings release. As of press time, the stock rose 2.96% to HK$114.70, with a trading volume of HK$298 million.

On the evening of November 18, Baidu reported its Q3 2025 financial results, showing total revenue of RMB31.2 billion, with core revenue at RMB24.7 billion. The company disclosed AI-related revenue for the first time, which grew over 50% year-over-year. Breakdowns include: - AI Cloud revenue up 33% YoY - AI application revenue reaching RMB2.6 billion - AI-native marketing services revenue surging 262% YoY to RMB2.8 billion

In Q3 2025, Baidu’s autonomous ride-hailing service Apollo Go completed 3.1 million fully driverless orders, accelerating growth to 212% YoY (vs. 148% in Q2). In October 2025, Apollo Go averaged over 250,000 weekly driverless orders. Cumulative autonomous rides surpassed 17 million by November 2025.