Baidu's adjusted profit in the fourth quarter fell by 42% but still exceeded expectations, with AI new business accounting for 43% of general revenue and the establishment of a dividend policy for the first time
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Baidu (9888) reported an adjusted profit of RMB 3.907 billion in the fourth quarter of last year, a year-on-year decline of 41.8%, but better than expected. Revenue was RMB 32.74 billion, a year-on-year decrease of 4%, with a quarter-on-quarter growth of 5%. A new USD 5 billion repurchase plan has been approved, with the first dividend expected in 2026. The full-year adjusted profit fell by 31%, with total revenue of RMB 129.1 billion, mainly affected by traditional business. Li Yanhong stated that 2025 will be a key year for AI to become the new core, with AI new business revenue accounting for 43% of general business revenue
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