1Q25百度集团总收入325亿元,同比+3.0%(VA一致预期:-1.9%,口径下同),超预期主因AI云收入增长强劲。非GAAP净利润65亿元,非GAAP净利率19.9%(预期:16.5%),同比下降2.3pp,下滑主因相对较高利润率的广告业务收入持续承压。1Q25百度AI云占百度核心收入比例同比提升6.5pp至26.1%,而广告收入占比对应同比下滑8.7pp。展望未来,考虑到AI需求的强劲及...
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