On November 18, Baidu, Inc. announced its financial results for the third quarter of 2025. According to the report, Baidu's total revenue for Q3 was RMB31.17 billion, a 7% year-over-year (YoY) decline and a 5% quarter-over-quarter (QoQ) decrease. Operating profit (non-GAAP) stood at RMB2.21 billion, down 69% YoY and 50% QoQ. Net income attributable to Baidu (non-GAAP) was RMB3.77 billion, reflecting a 36% YoY and 21% QoQ drop. Diluted earnings per ADS (non-GAAP) were RMB11.12, declining 33% YoY and 18% QoQ.

Baidu Core revenue reached RMB24.7 billion, down 7% YoY. Online marketing revenue fell 18% YoY to RMB15.3 billion, while non-online marketing revenue rose 21% YoY to RMB9.3 billion, driven by growth in the intelligent cloud business. iQiyi revenue decreased 8% YoY to RMB6.7 billion.

Baidu made notable progress across multiple sectors, including enterprise services, intelligent cloud, autonomous driving, and mobile ecosystems. In November 2025, the company launched its native multimodal foundation model, Ernie 5.0, and received ESG rating upgrades from MSCI, S&P CSA, and Sustainalytics.

In Q3 2025, Baidu's AI application revenue grew 6% YoY to RMB2.6 billion. Apollo Go, its autonomous ride-hailing service, completed 3.1 million fully driverless orders, marking a 212% YoY increase, and expanded operations to 22 cities globally, including Beijing, Shanghai, and Shenzhen.

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