Baidu Announces Third Quarter 2022 Outcomes

November 22, 2022

BEIJING, Nov. 22, 2022/ PRNewswire/– Baidu, Inc. (NASDAQ: BIDU and also HKEX: 9888) (” Baidu” or the “Business”), a leading AI firm with solid Web structure, today revealed its unaudited economic outcomes for the 3rd quarter finished September 30, 2022

” Baidu Core provided a strong collection of economic and also functional cause the 3rd quarter, in spite of the ongoing obstacles postured by the COVID-19 renewal. Baidu Core’s profits returned to favorable development, driven by a progressive healing of our internet marketing organization and also the stable development of our AI Cloud profits. Significantly, we remained to make considerable development in smart driving. On the one hand, Baidu Beauty’s vehicle services proceeded obtaining appeal among leading car manufacturers. On the various other hand, Beauty Go proceeded scaling up its procedure, finishing greater than 474,000 trips in the quarter, better reinforcing its top placement in the worldwide self-governing ride-hailing market,” stated Robin Li, Founder and also Chief Executive Officer of Baidu. “Looking in advance, we anticipate our mobile ecological community to proceed creating solid capital and also fund our financial investment in AI Cloud and also smart driving, which will certainly aid keep our management in the brand-new AI organization and also drive long-term organization development.”

” In the 3rd quarter of 2022, Baidu Core’s non-GAAP operating earnings enhanced by 14% year over year to RMB6.7 billion in spite of that the renewal of COVID-19 pressured profits efficiency. This success is attributable to our unrelenting initiatives in price optimization and also functional effectiveness.” stated Rong Luo, CFO of Baidu. “Moving forward, we will certainly remain to concentrate on high quality profits development. At the very same time, we will certainly maintain purchasing innovation and also abilities to move our future advancement.”

3rd Quarter 2022 Financial Emphasizes[1]


Baidu, Inc.

( In millions other than per

Q3


Q2


Q3






ADS, unaudited)

2021


2022


2022



YOY


QOQ


RMB


RMB


RMB

US$





Overall earnings

31,921


29,647


32,540

4,574


2 %


10 %












Operating revenue

2,308


3,400


5,317

747


130 %


56 %

Operating revenue (non-GAAP) [2]

4,708


5,493


7,200

1,012


53 %


31 %












Web (loss) revenue to Baidu

( 16,559)


3,637


( 146 )

( 21 )


( 99 %)


Earnings to Baidu (non-GAAP) [2]

5,090


5,541


5,889

828


16 %


6 %












Weakened (loss) incomes per ADS

( 48.18 )


9.97


( 0.87 )

( 0.12 )


( 98 %)


Weakened incomes per ADS (non-GAAP) [2]

14.66


15.79


16.87

2.37


15 %


7 %












Readjusted EBITDA [2]

5,962


7,054


8,879

1,248


49 %


26 %

Modified EBITDA margin

19 %


24 %


27 %

27 %
















[1] Unless or else kept in mind, RMB to USD was transformed at a currency exchange rate of RMB7.1135 since September 30,
2022, as stated in the H. 10 analytical launch of the Board of Governors of the Federal Book System. Translations are
given only for the comfort of the visitor.

[2] Non-GAAP steps are specified in the Non-GAAP Financial Steps area (see likewise “Settlements of Non-
GAAP Financial Steps to the Nearby Equivalent GAAP Steps” for even more information).


Baidu Core


Q3


Q2


Q3






( In millions, unaudited)

2021


2022


2022



YOY


QOQ


RMB


RMB


RMB

US$





Overall earnings

24,661


23,160


25,239

3,548


2 %


9 %












Operating revenue

3,718


3,246


4,982

700


34 %


53 %

Operating revenue (non-GAAP) [2]

5,823


5,121


6,650

935


14 %


30 %












Web (loss) revenue to Baidu Core

( 15,625)


3,716


25

4



( 99 %)

Earnings to Baidu Core (non-GAAP) [2]

5,855


5,449


5,767

811


( 2 %)


6 %












Readjusted EBITDA [2]

6,994


6,597


8,239

1,158


18 %


25 %

Modified EBITDA margin

28 %


28 %


33 %

33 %

















Functional Emphasizes

Business

  • Baidu returned US$ 272 million to investors considering that Q3 2022, bringing the advancing repurchase to $ 3.2 billion under the 2020 Share Repurchase Program.

AI Cloud

  • Since completion of the 3rd quarter of 2022, Baidu ACE wise transport services have actually been embraced by 63 cities, up from 24 cities a year back, based upon the agreement worth of over RMB10 million for each and every city.

Smart Driving

  • Baidu Beauty’s vehicle services remained to obtain grip amongst leading car manufacturers:

— Among China’s biggest vehicle and also innovation firms planned to make use of ANP (Beauty Navigating Pilot), AVP (Automated Valet Auto Parking) and also HD Maps for an additional prominent automobile design. The collaboration is an expansion of existing partnership, confirming a raising hunger for ASD (Beauty Self Driving) services from car manufacturers.

  • Beauty Go remained to advance swiftly and also stayed the biggest self-governing ride-hailing provider worldwide:

— Beauty Go supplied greater than 474K trips in the 3rd quarter of 2022, up 311% year over year and also 65% quarter over quarter. The collected trips supplied to the general public by Beauty Go got to 1.4 million by the 3rd quarter of 2022.

Various Other Development Campaigns

  • Xiaodu rated No. 1 in wise display screen deliveries and also wise audio speaker deliveries in China for 2Q22, according to IDC, Technique Analytics and also Canalys.

Mobile Ecological Community

  • In September, Baidu Application’s MAUs got to 634 million, up 5% year over year.
  • Income from Managed Web page expanded by 13% year over year and also got to 51% of Baidu Core’s internet marketing profits in the 3rd quarter of 2022.

iQIYI

iQIYI’s ordinary day-to-day variety of complete subscribing participants for the quarter was 101.0 million, contrasted to 104.7 million for the 3rd quarter of 2021 and also 98.3 million for the 2nd quarter of 2022.

3rd Quarter 2022 Financial Outcomes

Overall earnings were RMB 32.5 billion ($ 4.57 billion), boosting 2% year over year.

  • Income from Baidu Core was RMB 25.2 billion ($ 3.55 billion), boosting 2% year over year; internet marketing profits was RMB 18.7 billion ($ 2.63 billion), reducing 4% year over year however boosted 10% from the 2nd quarter as macro has actually boosted progressively considering that June, and also non-online advertising profits was RMB 6.5 billion ($ 916 million), up 25% year over year, driven by AI Cloud and also various other AI-powered companies.
  • Income from iQIYI was RMB 7.5 billion ($ 1.05 billion), reducing 2% year over year.

Price of earnings was RMB 16.3 billion ($ 2.29 billion), boosting 1% year over year.

Marketing, basic and also management expenditures were RMB 5.2 billion ($ 730 million), reducing 29% year over year, mainly as a result of a decline in network costs and also advertising advertising.

R & d cost was RMB 5.8 billion ($ 809 million), reducing 7% year over year, mainly as a result of a decline in personnel associated expenditures.

Operating revenue was RMB 5.3 billion ($ 747 million). Baidu Core running revenue was RMB 5.0 billion ($ 700 million), and also Baidu Core running margin was 20%. Non-GAAP operating revenue was RMB 7.2 billion ($ 1.01 billion). Non-GAAP Baidu Core running revenue was RMB 6.7 billion ($ 935 million), and also non-GAAP Baidu Core running margin was 26%.

Overall various other loss, internet was RMB 4.8 billion ($ 670 million), reducing 78% year over year, which mostly consists of a reasonable worth loss of RMB 3.1 billion and also a problems of long-lasting financial investments of RMB 1.4 billion In the 3rd quarter of 2021, we acknowledged a reasonable worth loss of RMB 18.9 billion A substantial section of long-lasting financial investments, consisting of however not restricted to financial investments in equity safety and securities of public and also personal firms, personal equity funds and also electronic possessions, undergoes quarterly reasonable worth changes, which might add to earnings volatility in future durations.

Earnings tax obligation cost was RMB 908 million ($ 128 million), contrasted to a revenue tax obligation advantage of RMB 1.8 billion for Q3′ 21, mainly as a result of a rise in deferred tax obligation advantage acknowledged on reasonable worth loss of long-lasting financial investments and also reduction on specific expenditures that were formerly taken into consideration non-deductible in the 3rd quarter of 2021.

Bottom line attributable to Baidu was RMB 146 million ($ 21 million), and also watered down loss per ADS was RMB 0.87 ($ 0.12) Earnings attributable to Baidu Core was RMB 25 million ($ 4 million). Non-GAAP earnings attributable to Baidu was RMB 5.9 billion ($ 828 million). Non-GAAP watered down incomes per ADS was RMB 16.87 ($ 2.37) Non-GAAP earnings attributable to Baidu Core was RMB 5.8 billion ($ 811 million), and also non-GAAP internet margin for Baidu Core was 23%.

Readjusted EBITDA was RMB 8.9 billion ($ 1.25 billion) and also readjusted EBITDA margin was 27%. Readjusted EBITDA for Baidu Core was RMB 8.2 billion ($ 1.16 billion) and also readjusted EBITDA margin for Baidu Core was 33%.

Since September 30, 2022, cash money, cash money matchings, limited cash money and also temporary financial investments were RMB 184.5 billion ($ 25.94 billion), and also cash money, cash money matchings, limited cash money and also temporary financial investments leaving out iQIYI were RMB 179.5 billion ($ 25.23 billion). Cost-free capital was RMB 6.6 billion ($ 921 million), and also complimentary capital leaving out iQIYI was RMB 6.4 billion ($ 900 million).

Teleconference Details

Baidu’s administration will certainly hold an incomes teleconference at 7:30 AM on November 22, 2022, United State Eastern Time ( 8:30 PM on November 22, 2022, Beijing Time).

Please sign up before the teleconference making use of the web link given listed below. It will immediately route you to the enrollment web page of “Baidu Inc Q3 2022 Revenues Teleconference”. Please comply with the actions to enter your enrollment information, after that click “Register”. Upon signing up, you will certainly after that be given with the dial-in number, the passcode, and also your special accessibility PIN. This info will certainly likewise be emailed to you as a schedule welcome.

For pre-registration, please click
https://s1.c-conf.com/diamondpass/10026844-g6c9hw.html 

In the 10 mins before the telephone call beginning time, you might make use of the meeting accessibility info (consisting of dial-in number( s), the passcode and also special accessibility PIN) given in the schedule welcome that you have actually obtained following your pre-registration.

Furthermore, an online and also archived webcast of this teleconference will certainly be readily available at https://ir.baidu.com.

Regarding Baidu

Established In 2000, Baidu’s objective is to make the complex globe easier via innovation. Baidu is a leading AI firm with solid Web structure, trading on NASDAQ under “BIDU” and also HKEX under “9888”. One Baidu ADS stands for 8 Course A common shares.

Safe Harbor Declaration

This statement consists of progressive declarations. These declarations are made under the “secure harbor” arrangements of the united state Personal Stocks Lawsuits Reform Act of 1995. These progressive declarations can be determined by terms such as “will,” “anticipates,” “prepares for,” “future,” “plans,” “strategies,” “thinks,” “price quotes,” “certain” and also comparable declarations. To name a few points, Baidu’s and also various other celebrations’ tactical and also functional strategies, include progressive declarations. Baidu might likewise make composed or dental progressive declarations in its routine records to the united state Stocks and also Exchange Payment, in statements made on the web site of The Stock market of Hong Kong Limited (the “Hong Kong Stock Market”), in its yearly record to investors, in news release and also various other written products and also in dental declarations made by its policemans, supervisors or staff members to 3rd parties. Declarations that are not historic realities, consisting of however not restricted to declarations concerning Baidu’s ideas and also assumptions, are progressive declarations. Progressive declarations entail intrinsic dangers and also unpredictabilities. A variety of elements can create real outcomes to vary materially from those consisted of in any type of progressive declaration, consisting of however not restricted to the following: Baidu’s development methods; its future organization advancement, consisting of advancement of brand-new services and products; its capacity to draw in and also maintain customers and also clients; competitors in the Chinese Web search and also newsfeed market; competitors for internet marketing clients; modifications in the Business’s earnings and also specific price or cost products as a percent of its earnings; the liquidity problem of Baidu and/its subsidiaries and also combined associated entities and also their particular capacity to accomplish settlement responsibilities when due; the result of recurring, or any type of future, lawsuits or mediation, consisting of those associating with copyright legal rights; the anticipated development of the Chinese-language Web search and also newsfeed market and also the variety of Web and also broadband customers in China; Chinese governmental plans associating with the Web and also Web search service providers, and also basic financial problems in China and also somewhere else. Additional info pertaining to these and also various other dangers is consisted of in the Business’s yearly record on Kind 20-F and also various other papers submitted with the Stocks and also Exchange Payment, and also statements on the web site of the Hong Kong Stock Market. Baidu does not carry out any type of commitment to upgrade any type of progressive declaration, other than as called for under appropriate regulation. All info given in this news release and also in the add-ons is since the day of journalism launch, and also Baidu carries out no task to upgrade such info, other than as called for under appropriate regulation.

Non-GAAP Financial Steps

To supplement Baidu’s combined economic outcomes offered according to GAAP, Baidu makes use of the adhering to non-GAAP economic steps: non-GAAP operating revenue (loss), non-GAAP operating margin, non-GAAP earnings attributable to Baidu, non-GAAP internet margin, non-GAAP watered down incomes per ADS, readjusted EBITDA, readjusted EBITDA margin and also complimentary capital. The discussion of these non-GAAP economic steps is not planned to be taken into consideration alone or as a replacement for the economic info ready and also offered according to GAAP.

Baidu thinks that these non-GAAP economic steps give significant additional info concerning its efficiency and also liquidity by leaving out specific products that might not be a measure of its persisting core organization operating outcomes, such as running efficiency leaving out non-cash costs or non-operating in nature. The Business thinks that both administration and also capitalists gain from describing these non-GAAP economic steps in examining its efficiency and also when preparation and also projecting future durations. These non-GAAP economic steps likewise help with administration’s interior contrasts to Baidu’s historic efficiency and also liquidity. The Business thinks these non-GAAP economic steps work to capitalists in enabling better openness relative to additional info made use of by administration in its economic and also functional choice production. A constraint of making use of these non-GAAP economic steps is that these non-GAAP steps leave out specific products that have actually been and also will certainly remain to be for the near future a substantial part in the Business’s outcomes of procedures. These non-GAAP economic steps offered right here might not approach in a similar way labelled steps offered by various other firms. Various other firms might determine in a similar way labelled steps in a different way, restricting their effectiveness as relative steps to the Business’s information.

Non-GAAP operating revenue stands for running revenue leaving out share-based payment expenditures, amortization and also problems of abstract possessions arising from organization mixes and also contingent loss relating to legal action in regard to previous ad agency and also iQIYI’s non-recurring staff member severance expenses.

Non-GAAP earnings attributable to Baidu stands for earnings attributable to Baidu leaving out share-based payment expenditures, amortization and also problems of abstract possessions arising from organization mixes, contingent loss relating to legal action in regard to previous ad agency, iQIYI’s non-recurring staff member severance expenses, disposal gain or loss, problems of long-lasting financial investments, reasonable worth adjustment of long-lasting financial investments, philanthropic contribution from Baidu, readjusted for associated revenue tax obligation impacts. Baidu’s share of equity technique financial investments for these non-GAAP integrating products, amortization and also problems of abstract possessions out the investees’ publications, accumulation of their redeemable non-controlling rate of interests, and also the gain or loss related to the issuance of shares by the investees at a cost greater or less than the bring worth per shares, readjusted for associated revenue tax obligation impacts, are likewise left out.

Non-GAAP watered down incomes per ADS stands for watered down incomes per ADS computed by splitting non-GAAP earnings attributable to Baidu, by the heavy ordinary variety of common shares shared in ADS. Readjusted EBITDA stands for running revenue leaving out devaluation, amortization and also problems of abstract possessions arising from organization mixes, contingent loss relating to legal action in regard to previous ad agency, iQIYI’s non-recurring staff member severance expenses, and also share-based payment expenditures.

To find out more on non-GAAP economic steps, please see the tables captioned “Settlements of non-GAAP economic steps to the local equivalent GAAP step”.

Baidu, Inc.

Compressed Consolidated Statements of (Loss) Earnings

( In millions besides per share (or ADS) info, unaudited)



3 Months Finished




September 30,


June 30,


September 30,


September 30,




2021


2022


2022


2022




RMB


RMB


RMB


US$( 2 )


Earnings:










Internet marketing solutions


21,050


18,268


19,943


2,803


Others


10,871


11,379


12,597


1,771


Overall earnings


31,921


29,647


32,540


4,574












Prices and also expenditures:










Price of earnings( 1 )


16,126


15,171


16,273


2,288


Marketing, basic and also management( 1 )


7,320


4,784


5,193


730


R & d( 1 )


6,167


6,292


5,757


809


Overall expenses and also expenditures


29,613


26,247


27,223


3,827


Operating revenue


2,308


3,400


5,317


747












Various other revenue (loss):










Rate of interest revenue


1,462


1,525


1,619


228


Rate of interest cost


( 880 )


( 741 )


( 724 )


( 102 )


Forex gain (loss), internet


7


( 329 )


( 806 )


( 113 )


Share of losses from equity technique financial investments


( 4 )


( 603 )


( 376 )


( 53 )


Others, internet


( 22,079)


299


( 4,483)


( 630 )


Overall various other (loss) revenue, internet


( 21,494)


151


( 4,770)


( 670 )












( Loss) revenue prior to revenue tax obligations


( 19,186)


3,551


547


77


Earnings tax obligation (advantage) cost


( 1,839)


25


908


128


Web (loss) revenue


( 17,347)


3,526


( 361 )


( 51 )


Web (loss) revenue attributable to noncontrolling rate of interests


( 788 )


( 111 )


( 215 )


( 30 )


Web (loss) revenue attributable to Baidu


( 16,559)


3,637


( 146 )


( 21 )






















( Loss) incomes per ADS (1 ADS standing for 8 Course A common shares):








– Standard


( 48.18 )


10.06


( 0.87 )


( 0.12 )


– Watered Down


( 48.18 )


9.97


( 0.87 )


( 0.12 )


( Loss) incomes per share for Course An as well as Course B common shares:








– Standard


( 6.02 )


1.26


( 0.11 )


( 0.02 )


– Watered Down


( 6.02 )


1.25


( 0.11 )


( 0.02 )


Heavy ordinary variety of Course An as well as Course B common shares impressive (in millions):






– Standard


2,778


2,780


2,790


2,790


– Watered Down


2,778


2,811


2,790


2,790












( 1 ) Consists of share-based payment expenditures as complies with:










Price of earnings


74


85


84


12


Marketing, basic and also management


353


443


480


68


R & d


921


1,493


1,039


145


Overall share-based payment expenditures


1,348


2,021


1,603


225












( 2 ) All translations from RMB to united state bucks are made at a price of RMB 7.1135 to US$ 1.00, the currency exchange rate basically since September 30,
2022 as stated in the H. 10 analytical launch of The Board of Governors of the Federal Book System.

Baidu, Inc.

Compressed Consolidated Equilibrium Sheets

( In millions, unaudited)










December 31,


September 30,


September 30,



2021


2022


2022



RMB


RMB


US$

POSSESSIONS







Present possessions:







Money and also cash money matchings


36,850


55,164


7,755

Limited cash money


10,821


11,233


1,579

Temporary financial investments, internet


143,243


118,148


16,609

Accounts receivable, internet


9,981


10,677


1,501

Quantities due from associated celebrations


1,368


3,880


545

Various other existing possessions, internet


11,052


9,818


1,380

Overall existing possessions


213,315


208,920


29,369








Non-current possessions:







Set possessions, internet


23,027


24,251


3,409

Accredited copyrights, internet


7,258


7,147


1,005

Created web content, internet


10,951


12,712


1,787

Abstract possessions, internet


1,689


1,453


204

A Good Reputation


22,605


22,602


3,177

Lasting financial investments, internet


59,417


55,527


7,806

Lasting time down payments and also held-to-maturity financial investments

7,915


22,149


3,114

Quantities due from associated celebrations


3,487


1,521


214

Deferred tax obligation possessions, internet


2,372


3,209


451

Operating lease right-of-use possessions


12,065


10,778


1,515

Various other non-current possessions


15,933


18,764


2,639

Overall non-current possessions


166,719


180,113


25,321








Overall possessions


380,034


389,033


54,690








OBLIGATIONS, REDEEMABLE NONCONTROLLING INTERESTS AND ALSO EQUITY

Present responsibilities:







Temporary lendings


4,168


4,977


700

Accounts payable and also accumulated responsibilities


41,384


38,689


5,439

Consumer down payments and also postponed profits


13,706


13,984


1,966

Deferred revenue


97


70


10

Lasting lendings, existing section


2



Exchangeable notes, existing



8,521


1,198

Notes payable, existing section


10,505


12,444


1,749

Quantities due to associated celebrations


1,764


3,482


489

Operating lease responsibilities


2,862


2,811


395

Overall existing responsibilities


74,488


84,978


11,946








Non-current responsibilities:







Deferred revenue


129


175


25

Deferred profits


223


285


40

Quantities due to associated celebrations


3,268


1,521


214

Lasting lendings


12,629


14,124


1,986

Notes payable


43,120


41,077


5,775

Exchangeable elderly notes


12,652


6,370


895

Deferred tax obligation responsibilities


3,286


2,854


401

Operating lease responsibilities


5,569


5,165


726

Various other non-current responsibilities


718


1,692


237

Overall non-current responsibilities


81,594


73,263


10,299








Overall responsibilities


156,082


158,241


22,245








Redeemable noncontrolling rate of interests


7,148


8,100


1,139








Equity







Overall Baidu investors’ equity


211,459


217,236


30,539

Noncontrolling rate of interests


5,345


5,456


767

Overall equity


216,804


222,692


31,306








Overall responsibilities, redeemable noncontrolling rate of interests, and also equity


380,034


389,033


54,690








Baidu, Inc.

Selected Details

( In millions, unaudited)





























3 months finished
September 30, 2021 (RMB)


3 months finished
June 30, 2022 (RMB)


3 months finished
September 30, 2022 (RMB)


3 months finished
September 30, 2022 (US$)




Baidu
Core

iQIYI

Elim & &
adj (2)


Baidu,
Inc.


Baidu &
Core

iQIYI

Elim &
adj( 2)


Baidu,
Inc.


Baidu
Core

iQIYI

Elim & &
adj( 2 )


Baidu,
Inc.


Baidu
Core

iQIYI

Elim &
adj( 2)


Baidu,
Inc.


Overall earnings


24,661

7,589

( 329)


31,921


23,160

6,657

( 170)


29,647


25,239

7,471

( 170)


32,540


3,548

1,050

(24 )


4,574


YOY














2%

( 2%)



2%








QOQ














9%

12 %



10%


































Prices and also expenditures:


























Price of earnings( 1 )


9,370

7,028

(272)


16,126


10,114

5,248

( 191)


15,171


10,745

5,705

( 177)


16,273


1,511

802

( 25 )


2,288


Marketing, basic and also management( 1)


6,089

1,246

( 15)


7,320


3,990

801

( 7)


4,784


4,231

980

( 18 )


5,193


595

138

( 3)


730


R & d( 1)


5,484

683


6,167


5,810

482


6,292


5,281

476


5,757


742

67


809


Overall expenses and also expenditures


20,943(* )8,957

( 287)

29,613


19,914


6,531

( 198)

26,247


20,257


7,161

(195)

27,223


2,848


1,007

( 28)

3,827


YOY


Price of earnings


























15%














( 19%)

1%



Marketing, basic and also management








( 31%)














( 21%)

( 29%)



Study and also advancement








(4%)














( 30%)

( 7% )



Price and also expenditures








( 3% )














( 20%)

( 8% )



Operating revenue( loss )


































3,718


(1,368 )

( 42)

2,308


3,246


126

28

3,400


4,982


310

25

5,317


700


43

4

747


YOY


34 %














130%



QOQ








53%














146 %

56 %



Operating margin








15 %


( 18 %)

7 %



14 %


2 %

11%



20%


4%

16%



Include: complete various other( loss) revenue, internet


































( 21,163)


( 331)

( 21,494 )


442


( 291 )

151


( 4,108)


( 662)

( 4,770)


( 577)


( 93)

( 670)


Much less: revenue tax obligation( advantage) cost


( 1,848)


9

( 1,839 )


( 11)


36

25


866


42

908


122


6

128


Much less: earnings( loss) attributable to NCI


28


22

( 838)

( 3) ( 788)


( 17)


13

( 107)

( 3) (111)


( 17)


1

( 199)

( 3)( 215)


( 3)



( 27 )

( 3) ( 30)


Web (loss) revenue attributable to Baidu


( 15,625)


( 1,730)

796

( 16,559 )


3,716


( 214)

135

3,637


25


( 395)

224

( 146)


4


( 56)

31(* )( 21)

YOY



( 77%)














( 99%)(* ) QOQ

( 99 %)



85 %





















Web margin

( 63 %)



( 23 %)








( 52 %)


16 %

( 3 %)



12 %


0 %

( 5 %)



( 0 %)(* )Non-GAAP economic steps:


Operating revenue( loss)( non-GAAP)

5,823



( 1,073)


































4,708


























5,121


344

5,493



6,650


525

7,200



935


73

1,012



YOY


14 %



53 %


QOQ














30 %

53 %



31 %








Operating margin( non-GAAP)














24 %

( 14 %)



15 % (* )22 %








5 % (* )19 %


26 %

7 %



22 %


Earnings( loss) attributable to Baidu( non-GAAP)

5,855



(1,400 )


5,090

5,449



79


































5,541


5,767

187



5,889


811

25



828


YOY

( 2 % )




16 %

QOQ



6 %


137 %














6 %

Web margin( non-GAAP)



24 %








( 18 %)














16 %

24 %



1 %








19 %


23 %

3 %



18 %


Readjusted EBITDA

6,994



( 990)


5,962

6,597



429


































7,054


8,239

615



8,879


1,158

86



1,248


YOY

18 %




49 %

QOQ



25 %


43 %














26 %

Modified EBITDA margin



28 %








( 13 % )














19 %

28 %



6 %








24 %


33 %

8 %



27 %


( 1) Consists of share-based payment as complies with:

Price of earnings



34


40

74



49


































36

























85


45

39



84


7

5



12


Marketing, basic and also management

196



157


353

339



104


443


375

105(* )480



53


15

68



R & d


837

84



921


1,431

62



1,493


978


61

1,039



136


9

145



Overall share-based payment(* )1,067(* )281


1,348

1,819



202


2,021

1,398



205


1,603


196

29



225


( 2) Associates with intersegment removals and also changes

( 3) Associates with the earnings/( loss) attributable to iQIYI noncontrolling rate of interests



Baidu, Inc.


Compressed Consolidated Statements of Money Flows

( In millions, unaudited)



3 months finished


3 months finished

3 months finished



3 months finished


September 30, 2021( RMB)
























June 30, 2022 (RMB)






















September 30, 2022( RMB)

September 30, 2022( US$)

Baidu excl. iQIYI




















iQIYI


Baidu, Inc.


Baidu excl. iQIYI


iQIYI



Baidu, Inc.


Baidu excl. iQIYI


iQIYI


Baidu, Inc.



Baidu excl. iQIYI

iQIYI

Baidu, Inc.


Web cash money given by( made use of in )operating tasks

5,436

( 2,081)


3,355

7,658

48


7,706

8,543

196

8,739(* )1,201


28

1,229(* )Web cash money( made use of in) given by spending tasks

( 15,857)(* )1,885


( 13,972)

( 3,027)

( 653)


( 3,680)

7,603

407(* )8,010


1,069

57

1,126

Web cash money given by( made use of in) funding tasks


7,744(* )867

8,611

877


( 334)

543

( 5,967)(* )( 106)


( 6,073)

( 839)

( 15)


(854)

Result of currency exchange rate modifications on cash money, cash money

matchings and also limited cash money(* )( 47)

( 21)


( 68 )

1,230

75


1,305

1,980

60


2,040

279

8


287

Web (reduction) rise in cash money, cash money matchings

and also limited cash money

( 2,724)
650


( 2,074)

6,738

( 864)


5,874

12,159

557


12,716

1,710

78


1,788

Money, cash money matchings and also limited cash money

At start of duration

46,812
6,736


53,548

43,924

3,883


47,807

50,662

3,019


53,681

7,122

424


7,546

At end of duration

44,088

7,386

















51,474


50,662

3,019

53,681


62,821

3,576

66,397


8,832

502

9,334


Web cash money given by( made use of in) operating tasks

5,436

( 2,081)

3,355


7,658

48

7,706


8,543

196

8,739


1,201

28

1,229


Much less: Capital investment

( 2,548)

( 116)


















( 2,664)


( 2,124)

( 66)

( 2,190)


( 2,140)

( 48)

( 2,188)


( 301)

( 7)

( 308)


Cost-free capital

2,888

( 2,197)

691


5,534

( 18)

5,516


6,403

148

6,551


900

21(* )921

Note: Baidu excl. iQIYI stands for Baidu, Inc. minus iQIYI’s combined capital.


Baidu, Inc.

Settlements of Non-GAAP Financial Steps to the Nearby Equivalent GAAP Steps

( In millions besides per ADS info, unaudited)

3 months finished


3 months finished

3 months finished

3 months finished


September 30, 2021( RMB)

June 30, 2022( RMB)

September 30, 2022( RMB)


September 30, 2022( US$)

Baidu Core

iQIYI


Baidu, Inc.

Baidu Core

iQIYI


















Baidu, Inc.














Baidu Core

iQIYI

Baidu, Inc.




















Baidu Core


iQIYI


Baidu, Inc.


Operating revenue( loss)



3,718


( 1,368)


2,308


3,246



126

3,400

4,982


310

5,317

700


43

747

Include: Share-based payment expenditures(* )1,067(* )281


1,348

1,819

202

2,021


1,398

205

1,603


196

29

225


Include: Amortization and also problems of abstract possessions

( 1)

62


14

76

56

16


72

56

10


66(* )8

1

9 (* )Include: Contingent loss


( 4)

976


976

214


214

31(* )-


31

Operating revenue( loss)( non-GAAP)

5,823


( 1,073 )

4,708

5,121


344

5,493

6,650

525 7,200


935

73

1,012


Include: Devaluation of set possessions

1,171

83


1,254

1,476

85


1,561

1,589

90

1,679


223

13

236


Readjusted EBITDA

6,994

( 990)


5,962

6,597

429


7,054

8,239(* )615

8,879


















1,158


86

1,248

Web( loss) revenue attributable to Baidu


( 15,625)(* )( 1,730)

( 16,559)

3,716


( 214)

3,637

25


( 395)

( 146)(* )4

( 56)

(21 )


Include: Share-based payment expenditures

1,086

281


1,231

1,815

202


1,916

1,394

205


1,497

196

29


















210


Include: Amortization and also problems of abstract possessions

( 1)

55


14

63

50


16

59

50


10

56

7

1


8

Include: Disposal( gain) loss


( 25)


( 25 )

( 6)


( 6)

( 1)

( 1)


Include: Problems of long-lasting financial investments

3,187

29 (* )3,202


222

11

228


1,042

376

1,230


146

53

173

Include: Fair worth loss( gain) of long-lasting financial investments


18,970

8(* )18,974

( 547)


2(* )( 546)

3,149

( 27)(* )3,135


443

( 4)(* )442

Include: Resolving products on equity technique financial investments


( 2)

36

3

38


403

60

455(* )237


16

245

34


2

35

Include: Philanthropic contribution from Baidu(* )( 3)


90

-(* )90

136


136

-(* )-


-(* )-

Include: Contingent loss (* )( 4)


976

976(* )-


-(* )-

214

214 30


30

Include: Tax obligation impacts on non-GAAP changes


(2,920)

( 5)

( 2,925)


( 321 )

2

( 319)


( 338 )(* )2

(336)

( 48 )

( 48)


Earnings( loss )attributable to Baidu (non-GAAP)

5,855

(1,400)


5,090

5,449

79


5,541

5,767

187(* )5,889


811(* )25

828

Weakened (loss )incomes per ADS

( 48.18) 9.97


( 0.87)

(0.12)(* )Include: Augmentation of the redeemable noncontrolling rate of interests

0.49


0.39

0.45

0.06


Include: Non-GAAP changes to incomes per ADS(* )62.35

5.43

17.29


2.43

Weakened incomes per ADS( non-GAAP) (* )14.66

15.79

16.87


2.37

( 1) This stands for amortization and also problems of abstract possessions arising from organization mixes.

( 2) This stands for Baidu’s share of equity technique financial investments for various other non-GAAP integrating products, amortization and also problems of abstract possessions out the investee’s publications, accumulation of their redeemable


noncontrolling rate of interests, and also the gain or loss related to the issuance of shares by the investees at a cost greater or less than the bring worth per shares.(* )( 3 )This stands for non-recurring philanthropic contribution to distinct occasions.

(4) This stands for contingent loss relating to legal action entailing previous ad agency.

Resource Baidu, Inc.


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