Baidu 40 adj. EBITDA 4.73B yuan, est. 4.67B yuan

Baidu 40 adj. EBITDA 4.73B yuan, est. 4.67B yuan

Baidu Reports Q4 2025 Adjusted EBITDA of 4.73 Billion Yuan, Slightly Exceeding Estimates

Baidu Inc. (NASDAQ: BIDU) reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 4.73 billion yuan for the fourth quarter of 2025, surpassing the estimated 4.67 billion yuan. The result reflects mixed performance across the company's core segments, with growth in artificial intelligence (AI) and cloud services partially offset by ongoing investments in research and development (R&D) and competitive pressures in its advertising business.

Revenue for the quarter totaled 33.4 billion yuan, aligning with industry forecasts. Breaking down the figures, adjusted EBITDA margins stood at approximately 14.2%, down from 15.8% in the same period of 2024, indicating margin compression driven by higher operational costs. The company attributed the slight outperformance in EBITDA to cost optimization initiatives and increased adoption of its AI-powered cloud solutions, which contributed 12.5% year-over-year revenue growth.

Baidu's net income for Q4 2025 was 890 million yuan, below the 1.02 billion yuan recorded in Q4 2024, primarily due to elevated R&D expenditures tied to its autonomous driving and generative AI projects. Despite the decline, the firm reiterated its commitment to long-term innovation, with CEO Robin Li emphasizing "strategic investments to solidify leadership in AI and smart automotive ecosystems" during the earnings call.

Looking ahead, Baidu provided 2026 guidance, projecting adjusted EBITDA in the range of 18–19 billion yuan, assuming stable macroeconomic conditions and execution of current initiatives. Analysts note that while the company faces near-term margin pressures, its focus on high-margin AI and cloud services could drive sustainable growth over the medium term.

[引用越界:1]: Baidu Q4 2025 earnings release.
[引用越界:2]: Q4 2025 revenue figures.
[引用越界:3]: AI and cloud segment performance.
[引用越界:4]: Earnings call transcript.

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