On November 21, Baidu released its third quarter financial report. The company achieved a revenue of 34.447 billion yuan and a net profit attributable to Baidu (non GAAP under US accounting standards) of 7.3 billion yuan, a year-on-year increase of 23%. Both revenue and profit exceeded market expectations.
The financial report shows that during the quarter, Baidu's core revenue reached 26.6 billion yuan, and the net profit attributable to Baidu's core reached 7 billion yuan, a year-on-year increase of 21%; Baidu's core online marketing revenue increased to 19.7 billion yuan. Meanwhile, the cumulative service volume of Radish Run has increased to 4.1 million orders.
Data shows that since ERNIE Bot was opened to the whole society, in October, Wenxin Big Model 4.0 was released. Users can experience the version of ERNIE Bot through Wenxin Yiyan, and enterprises can call the API of Wenxin 4.0 through Baidu AI Cloud Qianfan Big Model Platform. At present, ERNIE Bot has 70 million users, covering 4300 scenarios.
Recently, the data indicators of Baidu's many AI native applications have increased significantly. Based on ERNIE Bot's big model and Wenxin Yiyan's overall restructuring of its products, Baidu launched many AI native applications such as Baidu New Search, Baidu New Library, Baidu Online Disk "Cloud Yiduo", Baidu Maps, Baidu GBI, and the reconstructed AI native applications have achieved significant growth in the number of users.
Founder of Baidu Robin Lee, chairman and chief executive officer, said: "Against the background of emerging opportunities of generative AI and basic models, Baidu has constantly strengthened its technology and improved its products, especially launched Wenxin Big Model 4.0, which is the most powerful basic model of Baidu. We also used Wenxin Big Model and ERNIE Bot's ability to reconstruct consumer and enterprise products and its own operations, and constantly improve efficiency while bringing AI native experience."
Baidu's core business maintained a stable profit margin this quarter, and our continuous investment in artificial intelligence has laid the foundation for technology and product innovation. In the future, we will continue to prioritize investment in artificial intelligence, especially generative AI and basic models. Baidu will unwaveringly focus on efficiency and strategic resource allocation