ERNIE API calls
1.65 billion
daily in December
ERNIE handled approximately 1.65 billion API costs daily.
External ERNIE API calls growth
178%QoQ
Q4 FY24
external API costs growing 178% quarter-over-quarter.
Baidu Wenku subscription revenue growth
21%YoY
Q4 FY24
Wenku's subscription revenue grew 21% year-over-year.
Baidu Wenku AI-enabled features MAU
94 millionalmost doubling QoQ
December
Wenku's monthly active user of AI-enabled features reached 94 million, almost doubling quarter-over-quarter.
Search result pages with AI-generated content
22%
current
Currently, 22% of our search result pages contain AI-generated content.
Daily search queries per user growth
2%YoY
December
daily search queries per user increased by 2% year-over-year in December.
Advertisers using ERNIE agents daily
27,000
December
over 27,000 advertisers have been generating ad spending through ERNIE agents on a daily basis.
Apollo Go rides provided
1.1 million36% YoY growth
Q4 FY24
Apollo Go provided approximately 1.1 million rides to the public nationwide, representing a year-over-year growth of 36%.
Apollo Go cumulative rides
9 millionexceeded
January
In January, the cumulative rides provided to the public exceeded 9 million.
Apollo Go autonomous kilometers
130 million
to date
Apollo Go feeds have accumulated more than 130 million autonomous kilometers.
Unified GPU cluster scale
doubled
Q4 FY24
we doubled the scale of our unified GPU cluster, yet still achieved a 99% valid training time.
Unified GPU cluster valid training time
99%
Q4 FY24
we doubled the scale of our unified GPU cluster, yet still achieved a 99% valid training time.
Total revenues
RMB 34.1 billiondecreasing 2% YoY
Q4 FY24
Total revenues in the fourth quarter were RMB 34.1 billion, decreasing 2% year-over-year.
Total revenues
RMB 133.1 billiondecreasing 1% YoY
FY24
Total revenues for the full year 2024 were RMB 133.1 billion, decreasing 1% year-over-year.
Cost of revenues
RMB 18 billionincreasing 3% YoY
Q4 FY24
Cost of revenues was RMB 18 billion in Q4, increasing 3% year-over-year, primarily due to an increase in traffic acquisition costs, costs related to AI business and a onetime write-down of inventories, partially offset by a decrease in personnel-related expenses and content costs.
Cost of revenues
RMB 66.1 billionincreasing 2% YoY
FY24
Cost of revenue was RMB 66.1 billion in 2024, increasing 2% year-over-year primarily due to an increase in traffic acquisition costs, bandwidth costs and server custody fees, partially offset by a decrease in personnel-related expenses and content costs.
Operating expenses
RMB 12.2 billionremained flat compared to the same period last year
Q4 FY24
Operating expenses were RMB 12.2 billion in Q4, which remained flat compared to the same period last year, primarily due to an increase in expected credit losses, server depreciation expenses and server custody fees, which support GenAI research and development inputs and the channel spending and promotional marketing expenses, partially offset by a decrease in personnel-related expenses.
Operating expenses
RMB 45.8 billiondecreasing 4% YoY
FY24
Operating expenses were RMB 45.8 billion in 2024, decreasing 4% year-over-year, primarily due to a decrease in personnel-related expenses.
One-time losses
RMB 1 billion
Q4 FY24
The decrease was due to onetime losses of RMB 1 billion, including accrual of credit losses, write-down of inventories and others.
Non-GAAP operating income
RMB 5 billion
Q4 FY24
Non-GAAP operating income was RMB 5 billion in Q4
Non-GAAP operating income
RMB 26.2 billion
FY24
Non-GAAP operating income was RMB 26.2 billion in '24.
Total other income net
RMB 2.7 billioncompared to total other loss net of RMB 2.5 billion for the same period last year
Q4 FY24
total other income net was RMB 2.7 billion, compared to total other loss net of RMB 2.5 billion for the same period last year, mainly due to increase in net foreign exchange gain arising from exchange rate fluctuation between renminbi and U.S. dollar, and a decrease in pickup of losses from equity method investment, which modified certain terms of its preferred shares and resulted in significant loss pickup in 2023.
Total other income net
RMB 7.4 billionincreasing 120% YoY
FY24
total other income net was RMB 7.4 billion, increasing 120% year-over-year, primarily due to a decrease in pickup of losses.
Income tax expense
RMB 1.6 billion
Q4 FY24
Income tax expense was RMB 1.6 billion.
Income tax expense
RMB 4.4 billion
FY24
Income tax expense was RMB 4.4 billion.
Net income attributable to Baidu
RMB 5.2 billion
Q4 FY24
net income attributable to Baidu was RMB 5.2 billion
Net income attributable to Baidu
RMB 23.8 billion
FY24
net income attributable to Baidu was 23.8 billion
Diluted EPS
RMB 14.26
Q4 FY24
diluted earnings per ADS was RMB 14.26. The transcript states 'RMB 14.26 billion' but context suggests 'RMB 14.26' per ADS is intended.
Diluted EPS
RMB 65.91
FY24
diluted earnings per ADS was RMB 65.91.
Non-GAAP net income attributable to Baidu
RMB 6.7 billion
Q4 FY24
Non-GAAP net income attributable to Baidu was RMB 6.7 billion.
Non-GAAP net income attributable to Baidu
RMB 27 billion
FY24
Non-GAAP net income attributable to Baidu was RMB 27 billion.
Non-GAAP diluted EPS
RMB 19.19
Q4 FY24
Non-GAAP diluted earnings per ADS was RMB 19.19.
Non-GAAP diluted EPS
RMB 76.85
FY24
Non-GAAP diluted earnings per ADS was RMB 76.85.
Cash, cash equivalents, restricted cash and short-term investments
RMB 139.1 billion
as of December 31, 2024
As of December 31, 2024, cash, cash equivalents, restricted cash and short-term investments were RMB 139.1 billion
Cash, cash equivalents, restricted cash and short-term investments excluding iQIYI
RMB 134.7 billion
as of December 31, 2024
cash, cash equivalents, restricted cash and short-term investments excluding iQIYI were RMB 134.7 billion.
Net cash position
RMB 170.5 billion
as of December 31, 2024
As of December 31, 2024, net cash position for Baidu was RMB 170.5 billion.
Baidu Core employees
31,000
as of December 31, 2024
Baidu Core had approximately 31,000 employees as of December 31, 2024.
Share buyback (since beginning of 2024)
USD 1 billionsignificantly higher than our total buybacks in 2023
since beginning of 2024
We repurchased this over USD 1 billion since the beginning of 2024, which is significantly higher than our total buybacks in 2023.
Share buyback (total under program)
USD 1.7 billion
to date
In total, we have repurchased USD 1.7 billion under our $5 billion purchase program, which runs through December 2025.