BaiduThe company announced its 2024 financial results ending March 31, 2024.FirstAccording to the quarterly financial report, Baidu's total revenue reached 31.5 billion yuan this quarter, an increase of 1% year-on-year.
Baidu also achieved impressive results in terms of net profit, with net profit attributable to Baidu reaching RMB 5.4 billion, and net profit calculated on a non-GAAP basis reaching RMB 7 billion, a year-on-year increase of 221%, exceeding market expectations.
It is worth noting that Baidu Core's revenue performance is particularly outstanding. As an important business segment of Baidu, Baidu Core achieved revenue of 23.8 billion yuan in this quarter, a year-on-year increase of 4%. Its net profit also performed well, with a net profit of 6.6 billion yuan under Non-GAAP, and a net profit margin of 28%, a year-on-year increase of 26%.
Founder, Chairman and CEO of BaiduRobin LiAfter the financial report was released, it said: "With the advent of the era of generative artificial intelligence in China,Wenxin Large ModelBasic models such as these will become infrastructure and be integrated into every aspect of people’s lives. We are making the Wenxin large model series more affordable and efficient. This will bring more opportunities to Baidu.”
In addition, the financial report also shows that in March 2024, Baidu App had 676 million monthly active users, a year-on-year increase of 3%, and quarterly online marketing revenue of 17 billion yuan.
