Baidu Reports Stronger-Than-Expected Third-Quarter Results
Baidu (NASDAQ:BIDU) reported stronger-than-expected third-quarter profit and revenue on Nov. 18, 2025. Growth in its cloud business supported the results, sending shares up more than 2% intra-day.
The company posted earnings per share of RMB11.12, surpassing analyst expectations of RMB8.37. Total revenue declined 7% year over year to RMB31.17 billion, though it exceeded the RMB30.89 billion consensus.
Baidu Core revenue decreased 7% to RMB24.7 billion. Online marketing sales fell 18% to RMB15.3 billion, reflecting macroeconomic pressures. Non-online marketing revenue grew 21% to RMB9.3 billion, fueled by ongoing AI Cloud expansion.
AI Cloud Infrastructure revenue reached RMB4.2 billion, a 33% year-over-year increase. Subscription-based AI accelerator infrastructure saw a surge of 128%. Streaming subsidiary iQIYI reported RMB6.7 billion in revenue, an 8% year-over-year decrease.
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