BIDU-SW (09888) total revenue for the third quarter was 31.2 billion yuan, with AI new business revenue increasing by over 50% year-on-year.

BIDU-SW (09888) released its performance for the third quarter of 2025, with a total revenue of 31.2 billion RMB; of which, Baidu's core revenue was 24.7 billion RMB; online marketing revenue was 15.3 billion RMB, and non-online marketing revenue was 9.3 billion RMB, a year-on-year growth of 21%, mainly driven by the growth of the intelligent cloud business. In the third quarter of 2025, Baidu's autonomous vehicle service, Luobo Kuai Pao, provided a total of 3.1 million fully autonomous driving operation orders, with a year-on-year growth rate accelerating from 148% in the previous quarter to 212%. In October 2025, Luobo Kuai Pao's average weekly fully autonomous driving operation orders exceeded 250,000. As of November 2025, Luobo Kuai Pao had provided a total of over 17 million fully autonomous driving travel service orders to the public. In the third quarter, Baidu continued to advance the AI transformation of Baidu Search. In October 2025, approximately 70% of mobile search result pages contained AI-generated content. In September 2025, the monthly active users of the Baidu App reached 708 million, a 1% year-on-year growth. In the third quarter of 2025, Baidu is disclosing three major categories that significantly contribute to revenue: Intelligent cloud infrastructure - AI infrastructure and platform services serving enterprises and public sectors in the intelligent cloud. In the third quarter of 2025, revenue from intelligent cloud infrastructure reached 4.2 billion RMB, a year-on-year growth of 33%, with subscription revenue from AI high-performance computing facilities growing by 128% year-on-year. AI applications - AI native or AI-empowered products for specific use cases for individuals and enterprises, including Baidu Wenku, Baidu Cloud Drive, and Digital Employees, the company's flagship software products. Most of Baidu's AI applications adopt a high-stickiness subscription model, generating high-quality revenue. In the third quarter of 2025, revenue from AI applications reached 2.6 billion RMB, a 6% year-on-year growth. AI native marketing services - AI native online marketing products and services, including Intelligent Bodies and DIGIHUMAN. AI native marketing services are becoming the second growth curve outside of Baidu's traditional business, gaining strong appeal among customers seeking performance-driven AI native solutions and willing to pay a premium for cutting-edge AI technology to improve productivity and marketing returns. In the third quarter of 2025, revenue from AI native marketing services reached 2.8 billion RMB, a year-on-year growth of 262%. "In the third quarter, we fully demonstrated the transformative value of AI across our entire business landscape. The intelligent cloud business is maintaining a steady growth momentum, thanks to the increasingly widespread adoption of our AI products and solutions by enterprises. Luobo Kuai Pao has significantly accelerated the scale-up process of fully autonomous operations and continues to expand globally, including entering Switzerland, while maintaining industry-leading safety levels. In our mobile ecosystem, AI-native commercial products such as Intelligent Bodies and DIGIHUMAN have achieved rapid revenue growth, demonstrating strong long-term potential." Baidu Co-Founder and CEO Robin Li said, "We will continue to lead AI innovation, creating immense value for users, businesses, and society, consolidating our leading position in the AI era." "The intelligent cloud business achieved steady growth in the third quarter, effectively mitigating the impact of the weakness in online marketing business." Baidu CFO Herman Yu said, "Our strategic investment in AI is yielding fruitful results. In the third quarter of 2025, AI new business revenue grew by over 50% year-on-year, reaching approximately 10 billion RMB, laying a solid foundation for long-term sustainable growth." In addition, in the third quarter of 2025, Baidu received ESG rating upgrades from MSCI, S&P CSA, and Sustainalytics, reflecting its continuous progress in sustainable development practices.