Baidu’s revenues up, profits down in FY2021

Beijing, 1st March: Earlier this week, Baidu, the leading search engine in China, announced its financial results for the year ended 31st December 2021. The company reported revenues of US$20 billion, representing a year-on-year increase of 16%. However, net income for the year dropped 54%, down to US$1.6 billion. Diluted earnings per share were RMB 28.07 (US$4.40).

Revenues from Baidu’s core business reached US$15 billion in 2021, up 21% year-on-year. The majority of revenues (US$12 billion) were generated from its online marketing business, which grew 12% year-on-year. While the company’s non-online revenue amounted to just US$3.3 billion, this figure is up an impressive 71% compared with the previous year. Growth was mainly driven by Baidu’s cloud and AI-powered businesses.