Baidu Group-SW (09888) announced its financial results for the third quarter of 2025, achieving total revenue of RMB31.2 billion. Revenue from Baidu Core reached RMB24.7 billion, with online marketing revenue at RMB15.3 billion and non-online marketing revenue at RMB9.3 billion, up 21% year-over-year (YoY), primarily driven by growth in its intelligent cloud business.
In Q3 2025, Apollo Go, Baidu’s autonomous ride-hailing service, completed 3.1 million fully driverless orders, accelerating its YoY growth rate from 148% in the previous quarter to 212%. In October 2025, Apollo Go averaged over 250,000 fully driverless orders weekly. By November 2025, cumulative autonomous ride-hailing orders surpassed 17 million.
Baidu continued advancing AI integration into its search engine, with approximately 70% of mobile search results pages featuring AI-generated content as of October 2025. Monthly active users on the Baidu App reached 708 million in September 2025, up 1% YoY.
The company disclosed three key AI-driven revenue segments: 1. **Intelligent Cloud Infrastructure**: AI infrastructure and platform services for enterprises and public sectors. Revenue grew 33% YoY to RMB4.2 billion in Q3, with AI high-performance computing subscription revenue surging 128% YoY. 2. **AI Applications**: AI-native or AI-enhanced products for individuals and businesses, including Baidu Wenku, Baidu Netdisk, and digital employees. Most AI applications adopt a sticky subscription model, contributing high-quality revenue. Revenue rose 6% YoY to RMB2.6 billion. 3. **AI-Native Marketing Services**: AI-powered online marketing products like smart agents and digital humans. Revenue skyrocketed 262% YoY to RMB2.8 billion, emerging as a second growth curve beyond traditional marketing.
Robin Li, Co-founder and CEO of Baidu, stated, “This quarter demonstrated AI’s transformative impact across our business. Intelligent Cloud maintained robust growth as enterprises increasingly adopted our AI solutions. Apollo Go accelerated its global expansion, including entry into Switzerland, while maintaining industry-leading safety. AI-native commercialization products, such as smart agents, showed rapid revenue growth and long-term potential.”
CFO Herman He added, “Strategic AI investments are yielding strong results. AI-driven new business revenue exceeded RMB10 billion in Q3, up over 50% YoY, laying a solid foundation for sustainable growth.”
Additionally, Baidu received upgraded ESG ratings from MSCI, S&P CSA, and Sustainalytics in Q3 2025, reflecting progress in sustainable practices.
