Baidu's Mobile Reach Expanded to 1.1 Billion Monthly Active Devices in March 2019

Baidu’s Mobile Reach Expanded to 1.1 Billion Monthly Active Devices in March 2019

PRNewswire

May 20, 2019

Baidu, Inc. (“Baidu” or the “Company”), the leading Chinese language Internet search provider, announced its unaudited financial results for the first quarter ended March 31, 2019.

“Baidu’s mobile foundation continues to strengthen with search-powered AI, and our new AI businesses are making strong progress. In March, Baidu’s mobile reach expanded to 1.1 billion monthly active devices, while DuerOS voice assistant installed base reached 275 million devices and generated 2.37 billion monthly voice queries. We are leveraging Baidu AI to provide enterprise solutions to businesses and local governments, which significantly expands our total addressable market,” said Robin Li, Chairman and CEO of Baidu. “Looking ahead, we are quite excited about the opportunities to significantly improve content and service discovery through in-app search and increase customer ROI with our entrance into CRM, to deepen our offering to our marketing customers.”

“Baidu Q1 results were solid, with revenues reaching RMB 24.1 billion, up 15% year over year, or 21% year over year, excluding revenue from divested business, and margins were dampened by our successful CCTV New Year Eve Gala marketing campaign, which accelerated the traffic of Baidu family of apps and highlighted better in-app search user experience.” said Herman Yu, CFO of Baidu. “Despite government policies to improve the market condition for SMEs, we anticipate online marketing in the near term to face a challenging environment. We will take this opportunity to improve our monetization capabilities and review our businesses for operational efficiency, while recognizing the importance to invest for sustainable long-term growth.”

Marketing Technology News: “Bring Your Own Bot”: Sparkcentral’s AI Virtual Agent Framework for Chatbots Blends the Best of Both Worlds

First Quarter 2019 Financial Highlights

(in millions, except for per ADS information, unaudited)		Consolidated
		For the three-month ended March 31,
	2018		2019	YOY	YOY^[2]	2019
	RMB		RMB			USD
Total revenues	20,907		24,123	15%	21%	3,594

Operating income (loss)	4,568		(936)	(120%)		(139)
Operating margin	22%		(4%)			(4%)
Non-GAAP operating income^[3]	5,371		401	(93%)		60
Non-GAAP operating margin	26%		2%			2%

Net income (loss) attributable to Baidu	6,694		(327)	(105%)		(49)
Net margin	32%		(1%)			(1%)
Non-GAAP net income attributable to Baidu	4,817		967	(80%)		144
Non-GAAP net margin	23%		4%			4%

Diluted earnings (loss) per ADS	18.68		(0.98)	(105%)		(0.15)
Non-GAAP diluted earnings per ADS	13.69		2.77	(80%)		0.41

Marketing Technology News: Small Business Customers Embrace AI-driven Insights and Advice Integrated Into Online and Mobile Banking

Management Change

Hailong Xiang, senior vice president of the search business, has tendered his resignation, and the Company has accepted Hailong’s resignation and thanks him for fourteen years of service at Baidu.

The Company has promoted Dou Shen to senior vice president, overseeing Baidu’s mobile business, previously known as the search business. Previously, Dou served as vice president of Baidu’s mobile products, overseeing the development of Baidu App, Haokan short video app and Baidu smart mini program. Dou has served in various other roles at Baidu since joining in 2012, including web search, display advertising and the financial services group. Prior to Baidu, Dou worked in the adCenter group at Microsoft and sold Buzzlabs, a social media monitoring and analysis platform company that he co-founded, to IAC-owned CityGrid Media. Dou received a bachelor’s degree in engineering from North China Electric Power University, a master’s degree in engineering from Tsinghua University, and a Ph.D. in computer science from the Hong Kong University of Science and Technology.

Marketing Technology News: Forging Ahead with Rapid Growth, JumpCrew Secures an Additional $7.2 Million in Series B Funding Round

PRNewswire

PR Newswire, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to- end solutions to produce, optimize and target content -- and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.