Export financials
Baidu (BIDU)
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Baidu Income Statement 2025-2006 | BIDU
Brief overview of revenue and earnings at Baidu
The comparison covers a five-year financial horizon. Revenue reported by Baidu was 107 billion yuan at the beginning of the period and 129 billion yuan at the end. The cumulative result was +20.6%, corresponding to roughly 3.8% per year. The scale of the core business was largely unchanged.
At the gross-profit level, the result moved from 51.9 billion yuan to 56.6 billion yuan, a change of +9.1%. Cost of revenue developed less favorably than sales and pressured gross profitability. The gross margin was 48.5% at the start and 43.9% at the end. Weakening gross profitability reduces the quality of the top-line trend.
EBITDA changed from 37.1 billion yuan to 1.6 billion yuan (−95.7%). EBITDA underperformed the top-line trend. EBITDA margin moved from 34.6% to 1.2%. Cost pressure reduced operating profitability.
Over the period, net income shifted from 22.5 billion yuan to 5.6 billion yuan (−75.1%). Lower net income weakens the overall financial picture.
What the figures show
Signs of deterioration dominate the five-year picture. The weaker side of the profile includes weaker operating efficiency, limited revenue growth and a weaker final result. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Baidu
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
- | - | - | - | - | 78.7 B | 43.8 B | 59.1 B | 84.8 B | 60.6 B | 57 B | 76.4 B | 56.3 B | 38.1 B | 45.6 B | 2.56 B | 989 M | 1.16 B | 475 M | - |
Shares |
- | - | - | - | - | 335 M | 348 M | 349 M | 347 M | 347 M | 349 M | 351 M | 350 M | 349 M | 349 M | 34.8 M | 34.6 M | 34.2 M | 33.9 M | - |
Historical Prices |
83.1 | 95.7 | 131 | 141 | 160 | 235 | 124 | 173 | 247 | 175 | 163 | 218 | 156 | 108 | 128 | 73.6 | 28.6 | 33.8 | 14 | 8.34 |
Net Income |
5.59 B | 23.8 B | 20.3 B | 7.56 B | 10.2 B | 22.5 B | 2.06 B | 27.6 B | 18.3 B | 11.6 B | 33.7 B | 13.2 B | 10.5 B | 10.5 B | 6.64 B | 3.53 B | 1.49 B | 1.05 B | 629 M | - |
Revenue |
129 B | 133 B | 135 B | 124 B | 124 B | 107 B | 107 B | 102 B | 84.8 B | 70.5 B | 66.4 B | 49.1 B | 31.9 B | 22.3 B | 14.5 B | - | - | - | - | - |
Cost of Revenue |
72.4 B | 66.1 B | 65 B | 63.9 B | 64.3 B | 55.2 B | 62.8 B | 51.7 B | 43.1 B | 35.3 B | 27.5 B | 18.9 B | 11.5 B | 6.45 B | 3.9 B | 2.15 B | 1.62 B | 1.16 B | 645 M | - |
Gross Profit |
56.6 B | 67 B | 69.6 B | 59.7 B | 60.2 B | 51.9 B | 44.6 B | 50.5 B | 41.7 B | 35.3 B | 38.9 B | 30.2 B | 20.5 B | 15.9 B | 10.6 B | - | - | - | - | - |
Operating Income |
-5.82 B | 21.3 B | 21.9 B | 15.9 B | 10.5 B | 14.3 B | 6.31 B | 15.5 B | 15.7 B | 10 B | 11.7 B | 12.8 B | 11.2 B | 11.1 B | 7.58 B | 3.96 B | 1.6 B | 1.1 B | 547 M | - |
Interest Expense |
5.77 B | 1.83 B | 1.78 B | -5.74 B | -1.04 B | 9.4 B | -8.46 B | 9.43 B | 4.6 B | 3.79 B | 24.7 B | 261 M | 189 M | 454 M | 78.2 M | 44.2 M | 45.8 M | 21.7 M | 22.5 M | - |
EBITDA |
1.58 B | 27.9 B | 29 B | 22.1 B | 16.2 B | 37.1 B | 28.4 B | 31.7 B | 27.4 B | 18.4 B | 17.5 B | 16.8 B | 13.8 B | 12.6 B | 8.46 B | 4.39 B | 1.91 B | 1.37 B | 718 M | - |
Operating Expenses |
62.5 B | 45.8 B | 47.7 B | 43.8 B | 49.7 B | 37.6 B | 38.3 B | 35 B | 26.1 B | 25.2 B | 27.3 B | 17.4 B | 9.28 B | 4.81 B | 3.03 B | - | - | - | - | - |
General and Administrative Expenses |
25.8 B | 23.6 B | 23.5 B | 20.5 B | 24.7 B | - | - | - | - | 2.66 B | 2.57 B | 2.08 B | 1.16 B | 660 M | - | 1.09 B | 804 M | 660 M | 411 M | - |
Annual performance
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All numbers in CNY currency
Quarterly Income Statement Baidu
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2009-Q4 | 2008-Q4 | 2007-Q4 | 2006-Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 34.8 M | 34.6 M | 34.2 M | 33.9 M | - |
Net Income |
5.59 B | 23.8 B | 20.3 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.08 B | 12.4 B | - | - | - | 7.95 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.53 B | 1.49 B | 1.05 B | 629 M | - |
Revenue |
129 B | 133 B | 135 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 28.2 B | - | - | - | 1.1 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
72.4 B | 66.1 B | 65 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 15.6 B | 14.2 B | - | - | - | 11.8 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.15 B | 1.62 B | 1.16 B | 645 M | - |
Gross Profit |
56.6 B | 67 B | 69.6 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 14 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
-5.82 B | 21.3 B | 21.9 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.11 B | 4.43 B | - | - | - | 4.7 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.96 B | 1.6 B | 1.1 B | 547 M | - |
Interest Expense |
5.77 B | 1.83 B | 1.78 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -536 M | 7.88 B | - | - | - | 4.23 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 44.2 M | 45.8 M | 21.7 M | 22.5 M | - |
EBITDA |
1.58 B | 27.9 B | 29 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.29 B | 5.39 B | - | - | - | 5.66 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.39 B | 1.91 B | 1.37 B | 718 M | - |
Operating Expenses |
62.5 B | 45.8 B | 47.7 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1.11 B | 9.56 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
25.8 B | 23.6 B | 23.5 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.94 B | 5.64 B | - | - | - | 3.75 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.09 B | 804 M | 660 M | 411 M | - |
Quarterly performance
Select metrics to display
All numbers in CNY currency
The income statement is one of the three key financial reports of a company Baidu (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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