Baidu Q4 AI Revenue Hits RMB 11.3B, Approves US$5B Buyback and Dividend Policy
Baidu’s Q4 Core AI-powered Business revenue reached RMB 11.3 billion, representing 43% of general business, while overall revenue rose 6% and non-GAAP operating income advanced 28% to RMB 2.8 billion. Operating cash flow turned positive with RMB 3.9 billion, and a US$5 billion buyback and first dividend policy were authorized.
1. Financial Results
In Q4 2025, Baidu delivered sequential general business revenue growth of 6%, with non-GAAP operating income climbing 28% to RMB 2.8 billion. Operating cash flow turned positive in the second half of 2025, generating RMB 3.9 billion after covering a negative first half.
2. AI Business Performance
Revenue from the Core AI-powered Business hit RMB 11.3 billion in the quarter, up 48% year over year, and accounted for 43% of total general business revenue. AI Cloud Infra contributed RMB 5.8 billion (+34% YoY) and AI-native Marketing Services rose 301% to RMB 2.7 billion.
3. Shareholder Returns Initiatives
The board authorized a new US$5 billion share repurchase program effective through 2028 and adopted a dividend policy for ordinary shares, marking the first time Baidu has committed to potential regular or special distributions.
4. Apollo Go Expansion
Apollo Go completed 3.4 million fully driverless rides in Q4, a year-over-year increase of over 200%, with weekly peaks above 300,000. The service accelerated international trials in the UK, Switzerland, the Middle East and Asia, and crossed 20 million cumulative rides by February 2026.