Baidu reported Q4 2025 total revenues of RMB 32.7 billion (USD 4.68 billion), up 5.0% quarter over quarter, with operating income of RMB 1.5 billion and net income attributable to shareholders of RMB 1.8 billion. Non-GAAP operating income was RMB 3.0 billion and non-GAAP net income attributable to shareholders was RMB 3.9 billion; adjusted EBITDA was RMB 4.7 billion. As of Dec. 31, 2025, total cash and investments were RMB 294.1 billion (USD 42.06 billion), and Q4 operating cash flow was RMB 2.6 billion. For FY 2025, Baidu posted total revenues of RMB 129.1 billion (USD 18.46 billion), down 3.0% year over year, and net income attributable to shareholders of RMB 5.6 billion; non-GAAP net income attributable to shareholders was RMB 18.9 billion and adjusted EBITDA was RMB 22.9 billion. FY 2025 included an impairment of long-lived assets of RMB 16.2 billion, contributing to an operating loss of RMB 5.8 billion (operating income excluding the impairment was RMB 10.4 billion). Business highlights included Q4 2025 Baidu Core AI-powered Business revenue of RMB 11.3 billion, representing 43% of Baidu General Business revenue. Within that, AI Cloud Infra revenue was RMB 5.8 billion in Q4 and approximately RMB 19.8 billion in FY 2025 (up 34.0% year over year), while AI-native Marketing Services revenue was RMB 2.7 billion in Q4 (up 110.0% year over year) and RMB 9.8 billion in FY 2025 (up 3.0x year over year). Apollo Go delivered 3.4 million fully driverless rides in Q4, with cumulative rides exceeding 20 million as of Feb. 2026, and its footprint reached 26 cities. Corporate updates included a new share repurchase authorization of up to USD 5.0 billion through Dec. 31, 2028, the adoption of a dividend policy with a first payment potentially by year-end 2026, progress on a proposed Kunlunxin spin-off and separate listing, and the release of ERNIE 5.0 in January 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Baidu Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202602260400PR_NEWS_USPR_____CN96325) on February 26, 2026, and is solely responsible for the information contained therein.