Baidu Doubles Q4 Profit Despite 2% Revenue Slide

MT Newswires Live

02-18

Baidu (HKG:9888) recorded a 100% rise in attributable net income for the fourth quarter of 2024 to 5.2 billion yuan from 2.6 billion yuan in the year-ago period.

Earnings per ADS stood at 14.26 yuan, up from 6.77 yuan in the corresponding period of the previous fiscal year, a Tuesday filing with the Hong Kong bourse stated.

The Chinese search engine giant's total revenue fell by 2% to 34.1 billion yuan from 35 billion yuan a year prior.

For the full-year 2024, attributable net income rose 17% to 23.8 billion yuan from 20.3 billion yuan in 2023, while revenue slid 1% year over year to 133.1 billion yuan from 134.6 billion yuan.

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