Baidu Q1 net profit increased by 42% year-on-year, intelligent cloud growth reached 42%, and Luobo Kuai Pao's order volume surged by 75% | Financial Report Insights

Baidu's Q1 total revenue reached 32.45 billion yuan, exceeding expectations, with a year-on-year growth of 3%. Profit increased by 42% year-on-year, and the growth rate of intelligent cloud reached 42%. The order volume for Luobo Kuaipao increased by 75% year-on-year, and global mobility service instances exceeded 11 million.

On the evening of May 21, Baidu released its Q1 2025 financial report:

• Baidu Group's Q1 revenue was 32.45 billion yuan (approximately 4.47 billion USD), a year-on-year increase of 3%. Estimated at 31.03 billion yuan.
• Net profit was 7.72 billion yuan (1.06 billion USD), a year-on-year increase of 42%.
• Adjusted operating profit was 5.3 billion yuan, estimated at 4.89 billion yuan.
• Baidu's core revenue was 25.46 billion yuan (3.51 billion USD), a year-on-year increase of 7%.

After the data was released, Baidu's U.S. stock rose by 2.42% in pre-market trading.

Intelligent Cloud Business Explodes, Luobo Kuaipao's Autonomous Driving Business Accelerates Expansion

The biggest highlight of this quarter is undoubtedly the intelligent cloud business. This business saw a year-on-year revenue increase of 42%, becoming an important engine driving overall revenue growth.

The autonomous driving business is a key focus for Baidu's future growth. In Q1, Luobo Kuaipao's autonomous driving order volume exceeded 1.4 million orders, a year-on-year increase of 75%. As of May, the cumulative order volume surpassed 11 million orders. Additionally, Luobo Kuaipao has expanded into the Dubai and Abu Dhabi markets, further validating its technological strength and the feasibility of its business model. The collaboration with Shenzhou Car Rental to introduce autonomous driving into car rental services marks a gradual advancement in the company's commercialization.

The user base of the mobile ecosystem continues to grow, with Baidu APP's monthly active users reaching 7.24 million, a year-on-year increase of 7%.

Continued R&D Investment, Firm Commitment to AI Strategy

In terms of R&D, Baidu continues to maintain high investment levels. Baidu has released new products such as Wenxin 4.5 and X1, and continues to upgrade its MaaS platform, reflecting Baidu's ongoing investment in AI technology and its commitment to technological leadership.

As of March 31, 2025, Baidu's cash, cash equivalents, restricted funds, and short-term investments amounted to 142 billion yuan (19.57 billion USD), indicating ample cash reserves. However, free cash flow was negative 8.9 billion yuan (negative 1.23 billion USD), mainly due to increased investments in AI business. Baidu is actively repurchasing shares, with a total repurchase amount reaching 2.1 billion USD