Baidu’s total revenues reached RMB 28.2 billion ($4.11 billion) in Q3 2018, increasing 27% year over year. Total revenues of Baidu Core were RMB 21.6 billion ($3.15 billion), increasing 25% year over year. Find out the updates on Baidu finance, AI, and key applications in Q3.
Net income attributable to Baidu was RMB 12.4 billion ($1.80 billion), increasing 56% year over year, and diluted earnings attributable to Baidu per ADS was RMB 35 ($5.13), increasing 47% year over year. Net income attributable to Baidu Core was RMB 14.3 billion ($2.08 billion), increasing 63% year over year.
Baidu had approximately 522,000 active online marketing customers, increasing 7% year over year.
On the AI side, DuerOS continues to see strong adoption with an installed base reaching 141 million and voice queries surpassing 800 million in September 2018. On Apollo, Baidu is gaining valuable L4 operational experience, with fully autonomous Apolong minibuses powered by Apollo running in over 10 locations.
Sony, TCL, and Skyworth released smart televisions powered by DuerOS, including the Sony A9F and Z9F, TCL XESS series, Skyworth MAX TV LED series and MAX TV OLED series, and Skyworth Quanshi AI G50 and G60 models.
Baidu has partnered with fourteen botanical gardens and twelve museums across China to provide visitors with AI-powered immersive, interactive experience. At the botanical gardens, visitors can perform visual search to identify a plant’s species and take a guided tour with AR maps. At the museums, users can perform visual and AR search to learn more about historical artifacts, as well as take a smart guided tour with indoor maps.
Baidu Input Method Editor (mobile keyboard) reached 320 million in average Daily Active Users (DAUs), up 23% year over year, in September 2018, driven by the popularity of IME’s voice input with daily voice queries surpassing 300 million, or an increase of 130% year over year.
Baidu App DAUs reached a peak of 161 million in August and averaged 151 million in September 2018, increasing 19% year over year.
Baijiahao, or BJH, accounts’ content ecosystem exceeded 1.5 million publishers in September 2018.
Initial feedback from developers for Baidu’s Smart Mini Programs during pilot testing has been positive with monthly active users surpassing 100 million in September 2018. Baidu’s Smart Mini Programs has been open to all developers since the end of September 2018 and is expected to be open sourced at the end of the year.
Also check out 3 trends of WeChat Mini-Programs
Key events in Q3 2018
Baidu is the first Chinese member to join the Partnership on AI, a technology industry consortium consisting of over 70 non-profit and for-profit partners in ten countries to study and formulate AI best practices, advance the public’s understanding of AI, and serve as an open platform for discussion about AI and its impact on people and society.
Baidu formed strategic partnerships with China Unicom and Intel to build up the 5G+AI innovation labs to integrate 5G networks into AI applications.
Baidu received the top award in the 2018 Google AI Open Images-Object Detection Track, a large-scale object detection global competition, for its use of dynamic sampling network technologies.
Baidu completed the divestiture of its financial service business, Du Xiaoman Financial (“Du Xiaoman”) on August 22, 2018, the last of the announced divestitures. As a result of the transaction, Baidu holds a minority equity interest in Du Xiaoman. Du Xiaoman was deconsolidated from Baidu’s consolidated financial statements.
Du Xiaoman ranks the fourth in KPMG’s ranking of the 100 most innovative fintech start-up after Ant Financial, JD Finance, and Grab.
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