Baidu, Inc. (BIDU) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Sales/Revenue | 4.62B | 4.36B | 4.52B | 4.46B | 34.12B | 33.56B | 33.93B | 31.51B | 34.95B | 34.45B | 34.06B | 31.14B | 33.08B | 32.54B | 29.65B | 28.41B | 33.09B | 31.92B | 31.35B | 28.13B |
| Revenue Growth % | -86.47% | -87.02% | -86.67% | -85.85% | -2.37% | -2.58% | -0.37% | 1.18% | 5.67% | 5.86% | 14.87% | 9.62% | -0.03% | 1.94% | -5.43% | 0.98% | 9.33% | 13.07% | 20.42% | 24.79% |
| Cost of Goods Sold | 2.58B | 2.56B | 2.54B | 2.4B | 18.01B | 16.4B | 16.4B | 15.29B | 17.42B | 16.29B | 16.17B | 15.15B | 16.95B | 16.27B | 15.17B | 15.55B | 17.29B | 16.13B | 15.9B | 15B |
| COGS % of Revenue | 55.82% | 58.75% | 56.12% | 53.89% | 52.79% | 48.87% | 48.33% | 48.52% | 49.84% | 47.3% | 47.47% | 48.65% | 51.23% | 50.01% | 51.17% | 54.72% | 52.25% | 50.52% | 50.71% | 53.32% |
| Gross Profit | 2.04B | 1.8B | 1.98B | 2.06B | 16.11B | 17.16B | 17.53B | 16.22B | 17.53B | 18.15B | 17.89B | 15.99B | 16.13B | 16.27B | 14.48B | 12.87B | 15.8B | 15.79B | 15.45B | 13.13B |
| Gross Margin % | 44.18% | 41.25% | 43.88% | 46.11% | 47.21% | 51.13% | 51.67% | 51.48% | 50.16% | 52.7% | 52.53% | 51.35% | 48.77% | 49.99% | 48.83% | 45.28% | 47.75% | 49.48% | 49.29% | 46.68% |
| Gross Profit Growth % | -87.34% | -89.53% | -88.68% | -87.32% | -8.12% | -5.48% | -1.99% | 1.44% | 8.68% | 11.59% | 23.58% | 24.31% | 2.11% | 2.99% | -6.32% | -2.03% | 0.37% | 2.45% | 19.79% | 67.12% |
| Operating Expenses | 1.83B | 1.64B | 1.53B | 1.44B | 12.19B | 11.23B | 11.59B | 10.74B | 12.14B | 11.88B | 12.68B | 11.01B | 11.54B | 10.95B | 11.08B | 10.26B | 13.84B | 13.49B | 11.99B | 10.34B |
| OpEx % of Revenue | 39.65% | 37.72% | 33.87% | 32.22% | 35.73% | 33.47% | 34.15% | 34.07% | 34.74% | 34.48% | 37.23% | 35.36% | 34.89% | 33.65% | 37.36% | 36.13% | 41.83% | 42.25% | 38.25% | 36.76% |
| Selling, General & Admin | 1.04B | 919.45M | 823.96M | 812.59M | 6.68B | 5.87B | 5.7B | 5.38B | 5.85B | 5.78B | 6.3B | 5.59B | 5.88B | 5.19B | 4.78B | 4.66B | 6.45B | 7.32B | 5.71B | 5.25B |
| SG&A % of Revenue | 22.57% | 21.11% | 18.22% | 18.22% | 19.57% | 17.48% | 16.8% | 17.06% | 16.75% | 16.77% | 18.49% | 17.95% | 17.78% | 15.96% | 16.14% | 16.39% | 19.5% | 22.93% | 18.2% | 18.64% |
| Research & Development | 788.52M | 723.57M | 707.69M | 624.46M | 5.51B | 5.37B | 5.89B | 5.36B | 6.29B | 6.1B | 6.38B | 5.42B | 5.66B | 5.76B | 6.29B | 5.61B | 7.39B | 6.17B | 6.28B | 5.1B |
| R&D % of Revenue | 17.08% | 16.61% | 15.65% | 14% | 16.16% | 15.99% | 17.36% | 17.02% | 17.99% | 17.71% | 18.74% | 17.41% | 17.11% | 17.69% | 21.22% | 19.74% | 22.33% | 19.32% | 20.04% | 18.12% |
| Other Operating Expenses | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 209.15M | 153.54M | 453.04M | 619.51M | 3.92B | 5.92B | 5.94B | 5.48B | 5.39B | 6.27B | 5.21B | 4.98B | 4.59B | 5.32B | 3.4B | 2.6B | 1.96B | 2.31B | 3.46B | 2.79B |
| Operating Margin % | 4.53% | 3.53% | 10.02% | 13.89% | 11.48% | 17.66% | 17.52% | 17.4% | 15.43% | 18.21% | 15.3% | 15.99% | 13.89% | 16.34% | 11.47% | 9.15% | 5.92% | 7.23% | 11.05% | 9.91% |
| Operating Income Growth % | -94.66% | -97.41% | -92.38% | -88.7% | -27.36% | -5.56% | 14.09% | 10.12% | 17.4% | 18% | 53.24% | 91.46% | 134.58% | 130.37% | -1.82% | -6.74% | -60.66% | -62.51% | -4.97% | 738.22% |
| EBITDA | 457.37M | 472.93M | 748.06M | 887.49M | 5.87B | 7.69B | 7.63B | 7.1B | 7.42B | 8.23B | 7.07B | 8.66B | 6.39B | 9.35B | 7.43B | 6.63B | 3.29B | 6.76B | 7.92B | 7.25B |
| EBITDA Margin % | 9.91% | 10.86% | 16.54% | 19.9% | 17.2% | 22.9% | 22.5% | 22.53% | 21.23% | 23.88% | 20.77% | 27.81% | 19.32% | 28.73% | 25.07% | 23.35% | 9.94% | 21.19% | 25.25% | 25.75% |
| EBITDA Growth % | -92.21% | -93.85% | -90.2% | -87.5% | -20.89% | -6.58% | 7.95% | -18.01% | 16.1% | -12% | -4.83% | 30.58% | 94.34% | 38.2% | -6.12% | -8.46% | -65.15% | -52.51% | -32.53% | 431.99% |
| D&A (Non-Cash Add-back) | 248.22M | 319.38M | 295.02M | 267.98M | 1.95B | 1.76B | 1.69B | 1.62B | 2.03B | 1.95B | 1.86B | 3.68B | 1.8B | 4.03B | 4.03B | 4.03B | 1.33B | 4.46B | 4.45B | 4.46B |
| EBIT | 209.15M | 153.54M | 453.04M | 619.51M | 7.22B | 9.27B | 7.46B | 7.5B | 3.64B | 9.03B | 7.4B | 8.38B | 7.11B | 1.27B | 4.29B | 350M | 3.24B | -18.31B | 1.88B | 27.39B |
| Net Interest Income | 197.45M | 181.49M | 173.64M | 256.02M | 1.36B | 1.2B | 1.25B | 1.32B | 1.29B | 1.23B | 1.13B | 1.11B | 909M | 895M | 784M | 744M | 641M | 582M | 497M | 410M |
| Interest Income | 289.26M | 269.65M | 270.55M | 366.1M | 2B | 1.88B | 1.99B | 2.09B | 2.06B | 2.08B | 1.95B | 1.92B | 1.65B | 1.62B | 1.52B | 1.45B | 1.51B | 1.46B | 1.34B | 1.23B |
| Interest Expense | 91.81M | 88.16M | 96.91M | 110.08M | 643M | 673M | 742M | 766M | 774M | 853M | 817M | 804M | 738M | 724M | 741M | 710M | 873M | 880M | 845M | 823M |
| Other Income/Expense | 175.31M | -1.99B | 672.3M | 616.62M | 2.66B | 2.67B | 771M | 1.25B | -2.53B | 1.91B | 1.37B | 2.6B | 1.78B | -4.77B | 151M | -2.96B | 407M | -21.49B | -2.43B | 23.78B |
| Pretax Income | 384.46M | -1.84B | 1.13B | 1.24B | 6.58B | 8.6B | 6.71B | 6.73B | 2.87B | 8.18B | 6.58B | 7.58B | 6.37B | 547M | 3.55B | -360M | 2.37B | -19.19B | 1.03B | 26.57B |
| Pretax Margin % | 8.33% | -42.17% | 24.88% | 27.72% | 19.27% | 25.63% | 19.79% | 21.36% | 8.2% | 23.74% | 19.32% | 24.32% | 19.27% | 1.68% | 11.98% | -1.27% | 7.15% | -60.1% | 3.3% | 94.43% |
| Income Tax | 145.12M | -255.4M | 121.8M | 161.75M | 1.62B | 814M | 1.13B | 883M | -96M | 1.28B | 1.27B | 1.19B | 1.25B | 908M | 25M | 391M | 1.29B | -1.84B | 2.2B | 1.53B |
| Effective Tax Rate % | 37.75% | 13.91% | 10.82% | 13.09% | 24.62% | 9.47% | 16.84% | 13.12% | -3.35% | 15.67% | 19.3% | 15.75% | 19.67% | 166% | 0.7% | -108.61% | 54.76% | 9.59% | 212.68% | 5.77% |
| Net Income | 120.73M | -1.57B | 1.01B | 1.06B | 5.19B | 7.63B | 5.49B | 5.45B | 2.6B | 6.68B | 5.21B | 5.83B | 4.95B | -146M | 3.64B | -885M | 1.72B | -16.56B | -583M | 25.65B |
| Net Margin % | 2.61% | -36.03% | 22.38% | 23.78% | 15.22% | 22.74% | 16.17% | 17.29% | 7.44% | 19.39% | 15.3% | 18.7% | 14.97% | -0.45% | 12.27% | -3.12% | 5.18% | -51.87% | -1.86% | 91.18% |
| Net Income Growth % | -97.67% | -120.56% | -81.56% | -80.53% | 99.77% | 14.23% | 5.34% | -6.47% | -47.53% | 4676.03% | 43.25% | 758.19% | 188.8% | 99.12% | 723.84% | -103.45% | -66.85% | -221.06% | -116.29% | 62468.29% |
| Net Income (Continuing) | 239.34M | -1.58B | 1B | 1.07B | 4.96B | 7.79B | 5.58B | 5.85B | 2.96B | 6.9B | 5.31B | 6.38B | 5.12B | -361M | 3.53B | -751M | 1.07B | -17.35B | -1.16B | 25.03B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 23.4B | 23.07B | 22.86B | 20.33B | 19.99B | 19.54B | 20.17B | 19.76B | 18.98B | 18.28B | 17.81B | 17.48B | 14.33B | 13.56B | 13.62B | 13.06B | 12.49B | 13.18B | 10.42B | 9.3B |
| EPS (Diluted) | 2.48 | -33.84 | 20.32 | 21.60 | 13.20 | 21.60 | 15.04 | 14.88 | 5.20 | 18.80 | 14.72 | 16.40 | 14.16 | -0.48 | 10.32 | -3.15 | 5.92 | -47.68 | -1.68 | 73.92 |
| EPS Growth % | -81.21% | -256.67% | 35.11% | 45.16% | 153.85% | 14.89% | 2.17% | -9.27% | -63.28% | 4016.67% | 42.64% | 620.63% | 139.19% | 98.99% | 714.29% | -104.26% | -60.85% | -219.68% | -116.15% | 46100% |
| EPS (Basic) | 2.40 | -33.12 | 21.52 | 22.48 | 13.28 | 21.84 | 15.68 | 15.52 | 5.36 | 18.96 | 14.88 | 16.64 | 14.24 | -0.48 | 10.48 | -3.15 | 6.00 | -47.68 | -1.68 | 76.24 |
| Diluted Shares Outstanding | 344.75M | 339.13M | 341.25M | 345.25M | 347.88M | 351.25M | 351.25M | 352M | 353.75M | 355.75M | 354.25M | 354.63M | 350.13M | 348.75M | 351.38M | 345.88M | 352M | 347.25M | 347.75M | 347.13M |
| Basic Shares Outstanding | 484.24M | 339.13M | 340M | 343.88M | 346.88M | 350M | 350M | 350.5M | 351.5M | 351.75M | 350.5M | 349.75M | 348.63M | 348.75M | 347.5M | 345.88M | 347.5M | 347.25M | 347.75M | 336.5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |