Baidu Inc Stock Price, News & Analysis

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.

Baidu's Executive VP, Dou Shen, highlighted the rise of the intelligent economy during his keynote at Web Summit 2020. Shen noted that Baidu's mobile ecosystem is evolving to meet the demands of this trend, driven by AI technology. He identified three growth opportunities: service-oriented transformations, enhanced human connections, and the digitalization of industries. Baidu App has 544 million monthly active users, up 12% year-over-year, showcasing its effectiveness as a comprehensive service portal beyond traditional search services.

Baidu, Inc. (NASDAQ: BIDU) has been recognized as the top holder and applicant of AI-related patents in China, with 2,682 patents granted and 9,364 applications as of October 2020. This achievement, reported by China's Ministry of Industry and Information Technology, reflects Baidu's leadership in various AI sub-fields, including deep learning and autonomous driving. The company's technology has been applied across its business segments, enhancing products like the Apollo Go Robotaxi service and intelligent healthcare solutions, thereby driving innovation and economic growth.

Baidu, Inc. (NASDAQ: BIDU) reported third-quarter 2020 results, showing revenue growth of 1% year-over-year to RMB 28.2 billion ($4.16 billion). Operating income surged 69% year-over-year, reaching RMB 6.2 billion ($907 million), with an adjusted EBITDA margin of 32%. Strong performance in AI and cloud services contributed to the growth, alongside a remarkable turnaround in advertising revenue. Baidu's cash and short-term investments totaled RMB 146 billion ($21.5 billion). For Q4 2020, Baidu anticipates revenue between RMB 28.6 billion ($4.2 billion) and RMB 31.3 billion ($4.6 billion).

Baidu, Inc. (NASDAQ: BIDU) announced its acquisition of JOYY Inc.'s video-based entertainment live streaming business in China, known as YY Live, for approximately US$3.6 billion in cash. This acquisition is set to diversify Baidu's revenue sources and enhance its mobile ecosystem, expected to close in the first half of 2021. Baidu's CEO, Robin Li, stated that YY Live will benefit from Baidu's traffic and platform, while Baidu gains operational experience and a strong creator network. The deal positions Baidu to lead in the live streaming space and beyond.

Baidu, Inc. (Nasdaq: BIDU) announced its financial results for Q3 2020 will be released after U.S. market close on November 16, 2020. An earnings conference call will follow at 8:15 PM ET the same day, corresponding to 9:15 AM Beijing Time on November 17. Interested participants must pre-register for access details through a provided link. The conference will also be available via live and archived webcast at Baidu's investor relations site. A replay will be accessible via phone until November 24, 2020.

Baidu has launched its flagship Xiaodu Smart Display X10 and upgraded XiaoduPods smart earbuds during the 2020 Xiaodu Fall New Product Launch in Beijing. The Xiaodu Smart Display X10 features advanced AI-powered capabilities including gesture control and voiceprint recognition, designed for seamless family interaction. The XiaoduPods introduce a 'voice note' function aimed at enhancing work efficiency. Price reductions across the product range aim to increase accessibility for users. These innovations reflect Baidu's commitment to breaking boundaries in smart living.

Baidu, Inc. (Nasdaq: BIDU) has priced a public offering of US$950 million in notes, comprising US$650 million of 1.720% notes due 2026 and US$300 million of 2.375% notes due 2030. The offering aims to generate approximately US$945 million after expenses, primarily to repay existing debt. The notes will be registered under U.S. law and listed on the Singapore Exchange. Joint bookrunners include Goldman Sachs, BofA Securities, and J.P. Morgan. This announcement does not offer securities for sale in the U.S., and prospective investors should review the related prospectus.