Original title: Baidu’s third-quarter revenue of 31.9 billion yuan in smart cloud revenue increased by 70% year-on-year
Chinanews.com, Beijing, November 17 (Reporter Liu Yuying) Baidu Company announced its results on the evening of the 17th. In the third quarter of 2021, Baidu achieved revenue of 31.9 billion yuan (RMB, the same below), which is Baidu’s net profit (non-US) General Accounting Standards) 5.09 billion yuan, exceeding market average expectations.
Among them, Baidu’s smart cloud business performed well, with revenue increasing by 73% year-on-year, and the growth rate exceeded 70% for two consecutive quarters.
Li Yanhong showed the achievements of Baidu Smart Cloud in the financial report letter: launched a cloud-intelligence integrated solution for the financial service industry, and an end-to-end solution based on Kunlun AI chip and flying paddle deep learning platform is assisting a number of financial service companies To accelerate the digital transformation, Baidu Smart Cloud officially launched the Smart Cloud Open IoT Industrial Internet Platform, which was selected as a featured professional platform by the Ministry of Industry and Information Technology in the third quarter.
This quarter, Baidu’s research and development expenses reached 6.2 billion yuan, a year-on-year increase of 35%. In the “two bases and one base”, namely basic research, basic technology and bottom-level innovation, Baidu has ushered in a number of great achievements.
From the perspective of Baidu’s own business, it is mainly divided into three levels of growth engines: the first level is the mobile ecosystem, the second level is Baidu Smart Cloud, and the third level is the long-term key business, including smart driving, Xiaodu, biological computing, and AI chips. and many more.
Focusing on the application of AI, Baidu also disclosed the latest progress in its financial report. In terms of test mileage, Apollo L4’s accumulated autonomous driving test mileage exceeded 16 million kilometers, a year-on-year increase of 189%. In terms of test qualifications, Baidu Apollo has obtained 411 autonomous driving test licenses.
The financial report shows that in the third quarter, Baidu achieved revenue of 31.9 billion yuan, an increase of 13% year-on-year. Under non-GAAP (Non-Gaap), the net profit attributable to Baidu was 5.09 billion yuan. , Baidu had a net loss of 16.559 billion yuan. One of the important reasons for this is the market value adjustment of Kuaishou. (Zhongxin Finance Studio)