On February 24, Beijing Time (February 23, Eastern Time), Baidu (NASDAQ: BIDU) announced unaudited financial reports for the fourth quarter of 2016 and the full year. With respect to where to remove the impact, Baidu’s revenue for the quarter was 18.212 billion yuan (about 2.623 billion US dollars), which was the same level as the same period of last year, of which mobile revenue accounted for 65%; 2016 annual revenue was 70.549 billion yuan (approximately 101.61 yuan). Billion U.S. dollars), a year-on-year increase of 11.9%. Baidu's fourth-quarter 2016 results were in line with Wall Street expectations.
According to the financial data, in December 2016, Baidu Mobile’s monthly active users reached 665 million, up 2% year-on-year; Baidu Map monthly active users reached 341 million, up 13% year-on-year; Baidu’s wallet activated accounts reached 100 million, up from the same period last year. 88%; In the field of local living services, the total amount of Baidu's E-Commercial Transaction (GMV) constituted by Baidu Demi, Baidu's Take-out, Baidu Wallet, etc. was 18.1 billion yuan (US$2.6 billion), an increase of 23% year-on-year.
"Artificial intelligence will be a great opportunity to bring revolutionary changes to the Internet and traditional industries. Baidu has unique technological genes, big data advantages and talents, and it is the best choice to lead the new era of artificial intelligence in China." Baidu Chairman and CEO Li Yanhong said, “Our existing platform products, including search engines and information streams, have been optimized and upgraded through artificial intelligence technology applications and further enriched by our content and service ecosystem. We are existing We are excited about the tremendous opportunities brought about by the opening of the platform. In the future, we will actively build a new era of business driven by artificial intelligence."
Baidu’s Chief Financial Officer Li Wei stated: “In the fourth quarter, we completed several major measures to ensure that our new and old customers can meet our strict qualification requirements. The impact of these measures is long-lasting and beneficial, and we believe Baidu will be in 2017. As usual, we will continue to focus on creating the best experience for our users while continuing to increase investment in key products of artificial intelligence technology such as cloud computing, financial services, driverless cars and other industries. ."
In the fourth quarter, business data such as the number of users of mobile Baidu information flow integrated into artificial intelligence technology, distribution volume, and average user duration continued to grow rapidly. The Baijiahao was established for only 3 months and more than 200,000 authors have settled.
In service ecology, Baidu extends its connection services to more vertical areas. Baidu Maps, Baidu Demeter, and Baidu's take-out expanded the POI database. Users can directly access more than 2.4 million merchants, and the number of merchants increased by 117% year-on-year. Baidu Demi built a multi-dimensional content system on restaurants, hotels, and other important categories, and introduced new interactive methods such as live streaming and video to help users make decisions.
In terms of financial services, Baidu Finance is rapidly consolidating the status of the industry and making breakthroughs. As of the end of December 2016, Baidu Wallet activated users exceeded 100 million; “Baidu Rich Money†continued to lead the education and credit sector with a market share of 75%; Baixin Bank was officially approved by the Banking Regulatory Commission; Baidu Financial OTC Securities (ABS) The establishment of a scale of more than 5 billion yuan has greatly eased the financing pressure of cooperative consumer finance companies. Baidu is redistributing Internet finance with the power of technology to lead the financial innovation of organic integration of artificial intelligence and scene applications.
In the emerging business area, Baidu Cloud proposes strategic positioning of "ABC" (AI, Big data, Cloud) to the future, builds a future enterprise-level commercialization platform with Trinity, and successfully publishes "Tianzhi," "Tianji," and "Tianxiang". "Tiangong" and other industry-leading solutions, as well as more than 80 products. Baidu Cloud provides the most secure, high-performance and intelligent computing and data processing services for all sectors of the society, making smart cloud computing a new engine for social development.
At the Wujie World Internet Conference in November 2016, 18 Baidu unmanned vehicles achieved automatic driving for the first time under the complex road conditions of fully opened city roads. From road testing to trial operation, Baidu spent only one year. As of the end of November 2016, Baidu’s number of patent applications for automatic driving technology reached 605. At present, Baidu unmanned vehicles have established in-depth cooperation with Chery, BAIC, BYD, and Lincoln.
In 2016, Baidu accelerated its research, development, deployment and investment in artificial intelligence. At the beginning of 2017, former Microsoft executive vice president Lu Qi joined Baidu as president and COO of the group. Ren Baiyang, Ren Xuyang, Ma Dongmin and other old Baidu people have come back one after another. At the same time, there are a group of young executives. In terms of investment, the newly established Baidu Ventures invested in US virtual reality company 8i, Baidu wholly acquired Raven Technology. In business, almost all Baidu platform products have been further optimized and upgraded through the application of artificial intelligence technology. Baidu is actively building a new era of business driven by artificial intelligence.
In the financial report, Baidu’s outlook for the next quarter is expected: Baidu’s total revenue is expected to be between RMB 16.48 billion (US$2.374 billion) and 17.03 billion (about 24.53%) in the first quarter of 2017. (US$ billion), an increase of 4.2% from the same period in 2016 to 7.6%.
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