2021年第一季度百度营收（英）-13页_423kb

报告摘要

Total Revenues: RMB 28.1 billion (US$4.29 billion), up 25% year over year.
Baidu Core Revenue: RMB 20.5 billion (US$3.13 billion), up 34% year over year.
Online Marketing Revenue: RMB 16.3 billion (US$2.48 billion), up 27% year over year.
Non-Advertising Revenue: RMB 4.2 billion (US$646 million), up 70% year over year, driven by cloud and other services.
iQIYI Revenue: RMB 8.0 billion (US$1.22 billion), up 4% year over year.
Operating (Loss) Income: RMB 2.8 billion (US$426 million), up from a loss of RMB 437 million in Q1 2020.
Non-GAAP Operating Income: RMB 4.4 billion (US$666 million), up from RMB 4.3 billion in Q4 2020.
Non-GAAP Operating Margin: 25% for Baidu Core, up from 21% in Q4 2020.
Net Income to Baidu: RMB 25.7 billion (US$3.92 billion), up from RMB 41 million in Q1 2020.
Non-GAAP Net Income to Baidu: RMB 4.3 billion (US$656 million), up from RMB 3,082 million in Q1 2020.
Non-GAAP Diluted Earnings per ADS: RMB 12.38 (US$1.89), up from RMB 8.84 in Q1 2020.
Adjusted EBITDA: RMB 5.9 billion (US$901 million), up from RMB 2,852 million in Q1 2020.
Adjusted EBITDA Margin: 32% for Baidu Core, up from 13% in Q1 2020.

Cash and Cash Equivalents: RMB 172.9 billion (US$26.40 billion) as of March 31, 2021.
Free Cash Flow: RMB 2.6 billion (US$400 million), with free cash flow excluding iQIYI at RMB 4.0 billion (US$615 million).
Share Repurchase Program: Baidu returned US$300 million to shareholders, bringing cumulative repurchases since 2020 to US$2.2 billion.

Baidu EasyDL: Ranked No.1 in China for usage in Q4 2020.
PaddlePaddle: Upgraded to v2.0 in March 2021 and ranked among the Top 3 globally in terms of usage based on pull requests.
AI PaaS Adoption: A leading retail bank in China implemented Baidu's AI PaaS, leading to five follow-on purchases, including automation of customer service and loan approvals.
Partnerships: Baidu partnered with CCTV to automate video creation and tagging, and to enable AI reporters during important events.

Apollo Autonomous Driving: Accumulated 6.2 million miles of real-world testing and 600 million miles of simulated testing since 2013.
Permits: Received permits for autonomous driving at night and in special weather conditions in Beijing, and for fully autonomous operations in Beijing, Cangzhou, and Changsha.
Apollo Go: Launched as China's first fully autonomous ride-hailing service at Shougang Park and began charging for rides in Cangzhou.
Market Potential: The total addressable market for robotaxi ride-hailing in China is projected to reach US$224 billion by 2025.
Jidu Auto: Partnered with Zhejiang Geely Holding Group; Yiping Xia appointed as CEO.
Guangzhou Automobile Group: Joined Apollo's network to install ASD services in new vehicles.
Guidehouse Insights: Rated Baidu as a "leader" in AI for the second consecutive year.

DuerOS for Auto: Installed in over 1.5 million new vehicles, with Q1 2021 installations more than doubling from the prior year.
Xiaodu: Ranked No.1 in smart display shipments globally and No.1 in smart speaker shipments in China for 2020.
Xiaodu S12 Smart Pad: Launched in March 2021 for the education market with an MSRP of RMB 1,699.

Cloud Services: Ranked Top 3 in cloud services and No.1 in data center renewable energy utilization, per Greenpeace.
ESG Report: Released its annual ESG report in February 2021, detailing sustainability initiatives.
HKEX Listing: Listed on the HKEX (9888) in March 2021 through a global offering of 95 million shares, raising $3.1 billion in net proceeds.

Subscribers: Reached 105.3 million as of March 31, 2021.
Net Loss: Narrowed to RMB 1.3 billion in Q1 2021, compared to RMB 2.9 billion in Q1 2020.

Q2 2021 Revenue Guidance: Expected between RMB 29.7 billion (US$4.5 billion) and RMB 32.5 billion (US$5.0 billion), representing growth of 14% to 25% year over year.
Note: This guidance does not include potential contributions from an acquisition of YY Live.

Date and Time: May 18, 2021, at 8:00 AM U.S. Eastern Time (8:00 PM Beijing Time).
Registration: Available at http://apac.directeventreg.com/registration/event/4696103.
Webcast: Available at http://ir.baidu.com.
Replay: International dial-in number: +61 2 8199 0299; Conference ID: 4696103.

Baidu App: Reached 558 million MAUs in March 2021, with daily logged-in users at over 75%.
Smart Mini Programs: MAUs reached 416 million, up 74% year over year.
Managed Page Revenue: Accounted for 35% of Baidu Core's online marketing revenue, up from 21% year over year.

Cloud Services: Strong growth in non-advertising revenue.
Autonomous Driving: Continued expansion with real-world and simulated testing, and new permits.
AI Assistant: DuerOS for Auto and Xiaodu smart devices saw significant growth.
Sustainability: Leading in renewable energy use and ESG reporting.
iQIYI: Continued subscriber growth and improved net loss.
Financial Health: Strong cash reserves and positive cash flow, with substantial share repurchases.

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