$Baidu(BIDU.US) (-2.7% pre-mkt): 4Q results generally met/beat expectations although MAUs light (only 2 ests). As usual, no forward guidance included in release.
Conf call 7:30am ET. 4Q RESULTS- Revs 32.74B yuan, -4.1% y/y, vs 32.66B yuan est. - Rev from iQIYI (Netflix of China) 6.79B yuan vs 6.76B est.- Adj profit per ADR 10.62 yuan vs. 9.40 yuan est.- Adj Ebitda 4.73B yuan, -32% y/y, vs 4.67B yuan est.- Monthly active users 679M, estimate 703M est (2 ests).COMMENTARY AND CONTEXT- Portfolio of AI Applications continues to scale - Accelerating International Expansion Into New Markets- Confident in ability to create lasting value in AI- Kunlunxin spin-off separate listing is progressing - Apollo Go, Baidu's autonomous ride-hailing service, reported weekly rides of over 300K during the quarter (Waymo 400K per week, TSLA <100 per week). Total rides increased by 200% year over year. As of Feb 2026, cumulative rides provided to the public by Apollo Go exceeded 20 million. Entered the South Korean Market and expanded to several European markets.- Revenue from Baidu Core AI-powered Business exceeded 11B yuan in Q4, accounting for 34% of Baidu revsThe copyright of this article belongs to the original author/organization.
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