China Search Engine Giants Baidu Corporation's revenue in the first quarter of this year increased by 10%year -on -year, exceeding expectations.
Comprehensive reports from the First Finance and Reuters, Baidu announced on Tuesday (May 16) that the unaudited financial report as of the first quarter of March 31st was announced.
Baidu achieved revenue of 31.1 billion yuan (RMB, the same below, about S $ 5.963 billion) in the first quarter, an increase of 10%year -on -year, and the net profit attributable to Baidu was 5.8 billion yuan.(NON-GAAP) Baidu's net profit reached 5.7 billion yuan, an increase of 48%year-on-year.This is the first time Baidu Intelligent Cloud has achieved profitability under NON-GAAP.
Reuters quoted the estimated Baidu's first quarter revenue in the first quarter of which was 29.97 billion yuan.
Baidu's core online marketing revenue in the first quarter was 16.6 billion yuan, an increase of 6%year -on -year; the core operating profit increased significantly by 45%year -on -year to 5.36 billion yuan.Core performance growth has promoted the profit growth of Baidu Group.
Reported that the growth of profitability is due to the high -speed recovery of China's economy, driving industries such as tourism, business services, and local services to greatly increase marketing budgets; on the other handContinuous implementation of this efficiency increase.
Baidu CEO Li Yanhong said on Tuesday that the growth of the first quarter was mainly promoted by offline vertical fields, especially for the company's advertisers in offline industries such as tourism and medical care.He believes that with the economic recovery of the crown disease, advertising customers will put more budgets on the effect advertising platform, and Baidu's related businesses will inevitably benefit this trend.
In the first quarter of this year, Baidu's stock price had twists and turns for the launch of the online chat robot similar to ChatGPT.More than 10%and rebounded the next day.At present, Baidu is integrating Wenxin's words into all businesses for testing, and uses its capabilities to reshape the company's products and services for enterprises and consumers.
Li Yanhong said that Baidu plans to steadily incorporate Wenxin into all business of Baidu, but he did not disclose the timetable.Li Yanhong believes that the emergence of generating artificial intelligence and large language models shows the potential for changing artificial intelligence in all walks of life.Baidu CFO Luo Rong also said that in the next few quarters, Baidu will continue to invest in the field of generating artificial intelligence.
Li Yanhong later said in a call with analysts that Baidu has approved the government for approval of "Wenxin's words". Once the approval of the regulatory agency is approved, a large scale will be launched.
