Baidu (BIDU) Financial Statements & Analysis

Baidu (BIDU) Income Statement

Baidu reported revenue of CNY 129.08B in fiscal 2025 (fiscal year ended Dec 31, 2025), down 3.0% from CNY 133.13B a year earlier. Net income was CNY 5.59B, down 76.5% year over year, a net margin of 4.3%. Gross margin was 43.9% and operating margin -4.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 31.32B, down 4.2% from the same quarter a year earlier.

Baidu Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Baidu, Inc. income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	129.08	133.13	134.60	123.68	124.49	107.07	107.41	102.28	84.81
Cost of Revenue	72.44	66.10	65.03	63.94	64.15	55.16	62.85	51.74	43.06
Gross Profit	56.64	67.02	69.57	59.74	60.18	51.92	44.56	50.53	41.75
Operating Expenses
Research & Development	20.43	22.13	24.19	23.32	24.94	19.51	18.35	15.77	12.93
Selling, General & Administrative	25.84	23.62	23.52	20.51	24.72	18.06	19.91	19.23	13.13
Operating Expenses	62.47	45.75	47.71	43.83	49.66	37.58	38.26	35.00	26.06
Operating Income	-5.82	21.27	21.86	15.91	10.52	14.34	6.31	15.53	15.69
Other Income/Expense
Interest Income	8.60	7.96	8.01	6.25	5.55	5.36	6.06	4.45	3.15
Interest Expense	2.78	2.82	3.25	2.91	-3.42	3.10	2.96	1.88	1.62
Other Income/Expense	12.54	2.21	-1.42	-9.13	0.26	8.75	-6.65	11.80	5.59
Income
Income Before Tax	6.72	28.62	25.20	10.11	10.78	23.09	-0.34	27.33	21.28
Income Tax Expense	1.26	4.45	3.65	2.58	3.19	4.06	1.95	4.74	3.00
Net Income	5.59	23.76	20.32	7.56	10.23	22.47	2.06	27.57	18.30
Net Income - Continuous Operations	5.46	24.18	21.55	7.53	10.23	22.47	2.06	27.57	18.30
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	24.65	51.97	49.90	33.11	27.12	44.37	21.78	45.58	34.65
EBIT	10.37	31.45	28.45	13.03	10.68	14.69	-	-	-
Depreciation & Amortization	21.35	20.52	21.46	20.08	16.44	18.18	19.16	16.37	11.75
Earnings Per Share
Basic EPS	14.00	66.00	56.00	20.00	29.00	66.00	6.00	79.00	53.00
Diluted EPS	12.00	66.00	55.00	20.00	28.00	65.00	6.00	79.00	52.00
Basic Shares Outstanding	0.34	0.35	0.35	0.35	0.34	0.34	0.35	0.35	0.35
Diluted Shares Outstanding	0.34	0.35	0.35	0.35	0.35	0.34	0.35	0.35	0.35

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Baidu Financial Statements

What was Baidu's revenue in fiscal 2025?

Baidu reported revenue of CNY 129.08B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 3.0% from CNY 133.13B a year earlier.

Is Baidu profitable?

Yes. Baidu earned net income of CNY 5.59B in fiscal 2025, a net margin of 4.3%. In fiscal 2024 it earned CNY 23.76B.

What is Baidu's operating margin?

Baidu's operating income was −CNY 5.82B on revenue of CNY 129.08B in fiscal 2025, an operating margin of -4.5%, compared with 16.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition