Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen kkkkkkkkkayd for the clue delivery! CTOnews.com August 30 news, Baidu released the second quarter of 2022 results. According to the financial report, the revenue in the second quarter was 29.6 billion yuan, and the market expected 29.411 billion yuan, compared with 31.35 billion yuan in the same period last year, down 5% from the same period last year. The net profit is 3.637 billion yuan, and the market is expected to make a net profit of 2.189 billion yuan, compared with a net loss of 583 million yuan in the same period last year. The adjusted operating profit is 5.49 billion yuan and is expected to be 3.3 billion yuan.

CTOnews.com learned that the financial report showed that Baidu's core revenue in the second quarter was 23.16 billion yuan, with an estimated 22.59 billion yuan, down 4% from a year earlier.

As of June 30, the number of monthly active users of Baidu App reached 628 million, an increase of 8 per cent over the same period last year, with 84 per cent of daily login users.

In the specific business, Baidu smart cloud revenue increased by 31% compared with the same period last year, and increased by 10% month-on-month. According to IDC's report on China's public cloud market in the second half of 2021 released in June 2022, Baidu AI Cloud once again ranked as the number one AI cloud provider.

By the end of the second quarter of 2022, according to the contract value of more than 10 million yuan, Baidu ACE intelligent transportation has been adopted by 51 cities, up from 20 cities a year ago.

Baidu's self-driving ride-hailing service, Apollo Go, continues to make solid progress in expanding its operations. In the second quarter of 2022, Apollo Go offered 287,000 trips. On July 20, 2022, Apollo Go made a cumulative total of 1 million trips to serve passengers on open roads. On August 8, 2022, Apollo Go began offering completely self-driving ride-hailing services on open roads and obtained permits to charge passengers in Chongqing and Wuhan. This makes Apollo Go the first and only company in China to offer taxi-hailing services without human drivers at all. On July 20, 2022, Apollo Go was allowed to charge for self-driving taxi-hailing services on public roads in the Yizhuang area of Beijing. Apollo Go expanded to Hefei (Anhui) on July 11, 2022 and Chengdu (Sichuan) on July 22, 2022, and now provides services in more than a dozen cities in China, including all first-tier cities (Beijing, Shanghai, Guangzhou, Shenzhen) and other major cities.

According to IDC and Canalys, Xiaodu continued to rank first in China's smart speaker shipments in the first quarter of 22.

Iqiyi averaged 98 million daily subscribers this quarter, compared with 99 million in the second quarter of 2021 and 101 million in the first quarter of 2022.

Baidu's online marketing revenue in the second quarter of 2022 was 17.1 billion yuan ($2.55 billion), down 10% from a year earlier, while non-online marketing revenue was 6.1 billion yuan ($906 million), up 22% from a year earlier, driven by cloud and other AI-driven businesses.

Iqiyi's income in the second quarter was 6.7 billion yuan ($994 million), down 13% from a year earlier.

Baidu's sales, general and administrative expenses were 4.8 billion yuan ($714 million) in the second quarter, down 16% from a year earlier, mainly due to a reduction in channel spending and promotional marketing.

Baidu spent 6.3 billion yuan ($939 million) on research and development in the second quarter, roughly the same as last year.

As of June 30, 2022, cash, cash equivalents, restricted cash and short-term investments were RMB 189.4 billion (US $28.28 billion), excluding iqiyi's cash, cash equivalents, restricted cash and short-term investments were RMB 184.5 billion (US $27.55 billion). The free cash flow is 5.5 billion yuan ($823 million), while the free cash flow excluding iqiyi is 5.5 billion yuan ($826 million).

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