Baidu Inc Stock Price, News & Analysis

Baidu (NASDAQ: BIDU) and China Huaneng Group signed a memorandum of understanding to enhance the energy industry's digital transformation. The partnership will focus on developing AI-powered financial services and digitizing energy data, aiming for increased efficiency and user experience. Baidu will leverage its AI and big data technologies to support the intelligent upgrade of China's energy sector. This collaboration aligns with Baidu's commitment to environmental protection and innovation in energy solutions, positioning the company as a leader in intelligent transformation across various industries.

Baidu, Inc. (NASDAQ: BIDU) reported a solid end to 2020 with total revenues reaching RMB 30.3 billion ($4.64 billion), a 5% year-over-year increase. The company's core revenue saw significant growth, particularly from non-marketing services, which grew by 52% in Q4. Baidu's net income attributable to the company was RMB 5.2 billion ($794 million), while diluted earnings per ADS stood at RMB 15.05 ($2.31). For Q1 2021, Baidu expects revenues between RMB 26.0 billion and RMB 28.5 billion, reflecting anticipated growth of 15% to 26% year-over-year.

Baidu has launched the world's first multi-modal autonomous driving MaaS platform in Guangzhou, featuring Apollo Robotaxis, Robobuses, and other autonomous vehicles. The initiative aims to enhance city transportation, with over 100 Robotaxis and nearly 1,000 pickup stations planned for deployment. Users can reserve rides via Baidu Maps and Apollo Go apps, especially during the Chinese New Year. This launch exemplifies Baidu's commitment to smart transportation, supported by an intelligent network for real-time traffic management and enhanced mobility solutions in Guangzhou.

Baidu, Inc. (NASDAQ: BIDU) has cemented its leadership in China's autonomous driving sector, achieving top results in the 2020 Beijing Autonomous Vehicles Road Test Report for the third year in a row. Baidu Apollo led across all testing categories, operating 55 autonomous vehicles that completed over 1.1 million kilometers, representing 95.92% of the city's total testing distance. Baidu is the first company authorized to conduct fully driverless tests on public roads. Furthermore, the Apollo Go Robotaxi service saw positive reception, with over 90% of users expressing intent to use it again.

Baidu, Inc. (Nasdaq: BIDU), a prominent AI company, will release its financial results for Q4 and fiscal year 2020 on February 17, 2021, after U.S. market hours. The earnings conference call is scheduled for 8:15 PM EST that same day. Interested participants must register in advance to receive dial-in details and a unique ID. The conference will be accessible via a live and archived webcast on Baidu's investor relations website.

Baidu, Inc. (Nasdaq: BIDU) will hold an extraordinary general meeting of shareholders on March 1, 2021, in Beijing. A key proposal for consideration is the one-to-eighty share subdivision, allowing ten American depositary shares (ADSs) to represent eight Class A ordinary shares. This change is designed to maintain the percentage interest of ADS holders and is deemed neutral for the trading price on Nasdaq. The record date for shareholders entitled to vote is set for January 28, 2021. More details are available on Baidu's investor relations website.

Baidu, Inc. (NASDAQ: BIDU) announced plans to create an intelligent electric vehicle (EV) company, partnering with Zhejiang Geely Holding Group. Baidu will provide advanced intelligent driving capabilities, while Geely will leverage its automotive design and manufacturing expertise. This collaboration aims to meet the increasing demand for intelligent EVs in China, the largest market for such vehicles. Baidu's CEO highlighted the significant investment in AI over the past decade, reinforcing their commitment to smart transportation and the development of autonomous driving technologies.

Baidu, Inc. (NASDAQ: BIDU) unveiled new intelligent vehicle solutions for automakers during the Apollo Ecosystem Conference, emphasizing its commitment to revolutionizing autonomous driving. The company showcased advanced products including the Apollo Navigation Pilot (ANP) and intelligent cabin solutions, which have been integrated into over one million vehicles. Additionally, Baidu plans to expand its Apollo Go robotaxi service to approximately 30 cities in the next three years, having already served over 210,000 passengers. This initiative highlights Baidu's role in transforming urban transportation and enhancing smart mobility.

Baidu, Inc. (NASDAQ: BIDU) announced an increase in its 2020 Share Repurchase Program from US$3 billion to US$4.5 billion. This program, effective until December 31, 2022, allows repurchases of shares on the open market or through other legal means. The decision reflects the company's confidence in its value and aims to enhance shareholder returns. The board will periodically review the program and may adjust its terms as necessary.