As of the end of the third quarter of 2022, Baidu ACE smart transportation solutions have been adopted by 63 cities, up from 24 cities a year ago, based on the contract value of over RMB10 million for each city.
Apollo Go provided more than 474K rides in the third quarter of 2022, up 311% year over year and 65% quarter over quarter. The accumulated rides provided to the public by Apollo Go reached 1.4 million by the third quarter of 2022.
Xiaodu ranked No.1 in smart display shipments and smart speaker shipments in China for Q2, according to IDC, Strategy Analytics, and Canalys.
In September, Baidu App’s MAUs reached 634 million, up 5% year over year. Revenue from Managed Page grew by 13% year over year and reached 51% of Baidu Core’s online marketing revenue in the third quarter of 2022.
iQIYI’s average daily number of total subscribing members for the quarter was 101.0 million, compared to 104.7 million for the third quarter of 2021 and 98.3 million for the second quarter of 2022.
Financial Results in Q3 2022
Total revenues were RMB 32.5 billion ($4.57 billion), increasing 2% year over year. Non-GAAP net income attributable to Baidu was RMB 5.9 billion ($828 million), increasing 16% year over year.
Baidu Core’s revenue resumed positive growth. Non-GAAP Baidu Core operating income was RMB 6.7 billion ($935 million), and non-GAAP Baidu Core operating margin was 26%. Baidu Core’s non-online marketing revenue was RMB 6.5 billion ($916 million), up 25% year over year, driven by Baidu AI Cloud revenues increased by 24% year on year.
Net loss attributable to Baidu was RMB 146 million ($21 million), and diluted loss per ADS was RMB 0.87 ($0.12). Net income attributable to Baidu Core was RMB 25 million ($4 million). Non-GAAP net income attributable to Baidu was RMB 5.9 billion ($828 million).
Non-GAAP diluted earnings per ADS was RMB 16.87 ($2.37). Non-GAAP net income attributable to Baidu Core was RMB 5.8 billion ($811 million), and non-GAAP net margin for Baidu Core was 23%.