Lei Jianping reported on March 1
Baidu (NASDAQ:BIDU, HKEX: 9888) today released its earnings report. According to the financial report, Baidu's revenue in 2021 was 124.5 billion yuan, an increase of 16% year-on-year.
Baidu's revenue for the fourth quarter of 2021 was 33.1 billion yuan, and its net profit attributable to Baidu (non-GAAP) reached 4.1 billion yuan. In 2021, Baidu's core R&D expenditure was 22.1 billion yuan, accounting for 23% of Baidu's core revenue.
Robin Li, chairman and CEO of Baidu, said, "In 2021, Baidu handed over a steady growth answer sheet, of which the non-advertising business grew strongly, especially the intelligent cloud business grew rapidly. Baidu AI technology has penetrated into China's traditional industries and government service departments, helping thousands of industries to integrate innovation and improve efficiency.
"Baidu Radish Run's order volume in the fourth quarter was about 213,000 orders, an increase of nearly double from the previous quarter, and the order volume led the world, once again consolidating Baidu's leading position in the global autonomous driving market." Robin Li emphasized: "Baidu's strategic development direction is highly consistent with China's goals in scientific and technological innovation and in the green economy. ”
Luo Rong, Chief Financial Officer of Baidu, said: "In 2021, Baidu's core revenue increased by 21% year-on-year, and non-advertising revenue increased by 71% year-on-year. Looking ahead, we will further strengthen the operational efficiency and execution of the organization to promote long-term healthy and sustainable growth of the business. ”
Baidu Q4 revenue of 33.1 billion yuan increased by 9% year-on-year
Baidu's revenue in the fourth quarter of 2021 was 33.1 billion yuan, an increase of 9% from 30.263 billion yuan in the same period last year.
Baidu's revenue from Baidu Core in the fourth quarter of 2021 was RMB26 billion, up 12% from the same period last year; revenue from iQiyi was RMB7.4 billion.
In the context of the 14th Five-Year Plan, the number of cities covered by Baidu ACE Intelligent Transportation signing tens of millions of orders in 2021 will increase from 14 a year ago to 35.
At present, the competition for the second half of autonomous driving has begun, and large-scale commercial operations will become the focus of industry development. Finding problems from large-scale commercial operations and forcing technical iterations will produce a positive cycle that is constantly reinforcing.
In the fourth quarter, the number of manned orders for Radish Run was about 213,000, nearly doubling from the previous quarter. Up to now, Radish Run has covered 8 cities in Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Changsha, Cangzhou and Yangquan; among them, Beijing, Chongqing and Yangquan have all started official fee operations.
In terms of mobile ecological basic disk, "stable performance" and "ecological prosperity" have become the keywords in 2021.
In December 2021, Baidu App's monthly active users reached 622 million, an increase of 14% year-on-year, and the proportion of daily login users reached 82%. Baidu said that with the landing of Baidu's service strategy, the platform actively embraces interconnection, deep and thick, vertical and deep, and continues to create incremental value for users and society.
Baidu Q4 cost and expense of 31.1 billion yuan increased by 23% year-on-year
Baidu's costs and expenses for the fourth quarter of 2021 were 31.1 billion yuan, an increase of 23% from 25.2 billion yuan in the same period last year.
Among them, Baidu's cost in the fourth quarter of 2021 was 17.3 billion yuan, an increase of 19% over the same period last year.
Baidu's sales and administrative expenses for the fourth quarter of 2021 were RMB6.5 billion, up 27% from the same period last year, and R&D expenses were RMB7.4 billion, up 30% from the same period last year.
Baidu Q4 operating profit of 1.958 billion operating margin 6%
Baidu's operating profit for the fourth quarter of 2021 was 2 billion yuan, Non-GAAP operating profit was 4.3 billion yuan, and Baidu's core Non-GAAP operating profit was 4.8 billion yuan.
Baidu Q4 adjusted profit of 4.1 billion
Baidu's net profit attributable to the company in the fourth quarter of 2021 was 1.7 billion yuan, compared with 4.1 billion yuan under Non-GAAP and 5.757 billion yuan under Adjusted EBITDA.
As of December 31, 2021, Baidu held cash, cash equivalents, restricted cash, and short-term investments of 190.9 billion yuan.