Baidu Inc Stock Price, News & Analysis

Trip.com Group (Nasdaq: TCOM; HKEX: 9961) announced changes to its board of directors on February 11, 2025. Mr. Junjie He, a director nominated by Baidu, has resigned from his position. He will be replaced by Mr. Rong Luo, the current Executive Vice President of Baidu.

Mr. Luo brings significant financial leadership experience, having served as Baidu's CFO from November 2021 to October 2024. His prior roles include CFO positions at TAL Education Group and eLong Inc., as well as financial management positions at Lenovo Group and Microsoft. He holds degrees from Peking University and Tsinghua University.

According to Trip.com Group's articles of association, Mr. Luo will serve as director until the first annual general meeting following his appointment, where he will be eligible for re-election.

Baidu (NASDAQ: BIDU) has announced it will release its Fourth Quarter and Fiscal Year 2024 financial results on February 18, 2025, before the U.S. market opens. The company's management will host an earnings conference call at 7:30 AM U.S. Eastern Time (8:30 PM Beijing Time) on the same day.

Interested participants must pre-register for the conference call through the provided link. Upon registration, they will receive dial-in details, passcode, and a unique access PIN. The conference call will also be available via live and archived webcast on Baidu's investor relations website. A replay of the call will be accessible until February 25, 2025.

Baidu (BIDU) reported Q3 2024 financial results showing total revenues of RMB33.6 billion ($4.78 billion), a 3% year-over-year decrease. Baidu Core revenue remained flat at RMB26.5 billion ($3.78 billion), with online marketing revenue declining 4% while non-online marketing revenue grew 12%, driven by AI Cloud business. Operating income was RMB5.9 billion ($844 million). Apollo Go, Baidu's autonomous ride-hailing service, provided 988K rides in Q3, up 20% year over year, with fully driverless vehicles accounting for over 70% of total rides. The company's AI platform ERNIE handled approximately 1.5 billion API calls daily in November, up from 600 million in August.

Baidu unveiled new AI technologies at Baidu World 2024, including iRAG for reducing hallucinations in image generation and Miaoda, a no-code tool for application development. The company reported that ERNIE's daily API calls reached 1.5 billion, marking a 30-fold increase from last year. ERNIE Bot has accumulated 430 million users, while the Qianfan platform has helped develop 770,000 enterprise applications. Baidu also announced Xiaodu AI Glasses, powered by ERNIE, scheduled for release in first half of 2025.

Baidu (Nasdaq: BIDU) announced it will report its Third Quarter 2024 financial results on November 21, 2024, before U.S. market opens. The company will host an earnings conference call at 7:30 AM U.S. Eastern Time (8:30 PM Beijing Time) on the same day. Interested participants must pre-register for the call, after which they will receive dial-in details, passcode, and a unique access PIN. A live and archived webcast will be available on Baidu's investor relations website, and a conference call replay will be accessible until November 28, 2024.

Baidu, a leading AI company, has announced a management rotation. Mr. Rong Luo will now serve as Executive Vice President in charge of the Baidu Mobile Ecosystem Group (MEG), stepping down from his role as Chief Financial Officer. Concurrently, Mr. Junjie He has been appointed as the Interim Chief Financial Officer, transitioning from his position as Senior Vice President and Head of MEG.

This rotation aims to foster executive leadership development, optimize organizational structure, and support Baidu's long-term growth. Robin Yanhong Li, Baidu's co-founder and CEO, expressed confidence in both executives' abilities to drive the company's strategic initiatives forward.

Mr. Junjie He, who joined Baidu in June 2019, has extensive experience in management, investment, and finance, having previously overseen Baidu's M&A, SIM, SOM, and FP&A departments. He holds a bachelor's degree from the Guanghua School of Management, Peking University.

Baidu, Inc. (NASDAQ: BIDU) announced its Q2 2024 financial results, showing modest growth despite macro headwinds. Total revenues were RMB33.9 billion ($4.67 billion), flat year-over-year. Baidu Core revenue increased 1% to RMB26.7 billion ($3.67 billion), driven by 10% growth in non-online marketing revenue, mainly from AI Cloud. Net income attributable to Baidu was RMB5.5 billion ($755 million), with diluted earnings per ADS of RMB15.01 ($2.07).

The company highlighted progress in AI initiatives, including the launch of ERNIE 4.0 Turbo and expansion of Apollo Go autonomous ride-hailing service. Baidu App's MAUs reached 703 million in June 2024, up 4% year-over-year. The company maintained a healthy margin while optimizing operations and speeding up AI-native transformation of its products.

Hesai Technology (Nasdaq: HSAI), a global leader in lidar safety technology, has been chosen by Baidu (NASDAQ: BIDU) as the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06. This deal, estimated at $200-300 million, is based on Baidu's plans to deploy 100,000 robotaxi vehicles in China. The Chinese robotaxi market is projected to reach $162.6 billion in 2025 and $403.6 billion in 2030.

Hesai dominated the global robotaxi lidar market in 2023 with a 74% share of the $124 million market. The company's total lidar shipment volume has exceeded 380,000 units as of Q1 2024. Hesai's success is attributed to its high-performance lidar technology, which is used by nine of the top ten L4 autonomous driving companies globally.

Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888, 89888) has announced it will report its Q2 2024 financial results on August 22, 2024, before the U.S. market opens. The company will hold an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Beijing Time) on the same day. Investors and analysts can pre-register for the call using a provided link, which will supply dial-in details and a unique access PIN. A live and archived webcast of the call will be available on Baidu's investor relations website. Additionally, a replay of the conference call will be accessible until August 29, 2024.