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Baidu's fourth-quarter revenue grew by 6% year-on-year to 35 billion yuan, falling slightly below estimates. Despite the revenue increase, the net profit attributable to Baidu was 26 billion yuan, down 48% year-on-year. The company's total revenues in 2023 reached $18.96 billion, with non-GAAP net income up 39% year-on-year to $4.05 billion. Baidu's CEO highlighted the role of AI in driving revenue growth, with AI-generated revenue reaching $91.2 million.
Baidu's 2023 net income has beat market forecasts, with AI emerging as a new growth engine. Robin Li, Baidu’s co-founder, chairman, and CEO, said: "Throughout 2023, we made significant strides in advancing ERNIE and ERNIE Bot, reinventing our products and services, and achieving… https://t.co/MTBgPyknve
In the fourth quarter, @Baidu_Inc reported a total revenue was 35 billion yuan, a year-on-year increase of 6%. Net profit attributable to Baidu was 26 billion yuan. #AI https://t.co/fD8pdlimEh
Baidu’s profit halved in Q4, CEO discloses AI-generated revenue of $91.2 million https://t.co/SZbEqBPg0c