Chinese internet giant Baidu on Tuesday announced its unaudited financial results for the quarter and fiscal year ended December 31, 2021.
“Baidu concluded a solid 2021, evidenced by a strong growth in our non-advertising business, particularly the acceleration of Baidu AI Cloud. We brought our AI capabilities to China’s traditional industries and public service sector, to aid in the improvement of their efficiency and operational expansion. Furthermore, Apollo Go provided around 213,000 rides in the fourth quarter, almost doubling sequentially,” said Robin Li, Co-founder and CEO of Baidu.
In the fourth quarter last year, Baidu’s total revenues were 33.1 billion yuan ($5.19 billion), increasing 9% year over year. Revenue from Baidu Core was 26.0 billion yuan, increasing 12% year over year. Online marketing revenue was 19.1 billion and non-online marketing revenue was 6.9 billion, driven by cloud and other AI-powered businesses. Net income attributable to Baidu was 1.7 billion, while Non-GAAP net income attributable to Baidu was 4.1 billion.
For the fiscal Year of 2021, its total revenues were 124.5 billion, increasing 16% year over year. Revenue from Baidu Core was 95.2 billion, increasing 21% year over year. Net income attributable to Baidu was 10.2 billion.
As of the end of 2021 and based on contract amounts of over 10 million yuan, Baidu ACE smart transportation has been adopted by 35 cities, up from 14 cities a year ago. Baidu was once again ranked the No. 1 AI cloud provider, according to IDC’s first half of 2021 report on China’s public cloud market.
Meanwhile, the PaddlePaddle developer community has grown to 4.06 million and has served 157,000 businesses, as of the end of 2021. As of the end of 2021, developers had created 476,000 models on the platform.
Rides provided by Apollo Go almost doubled, and reached around 213,000 in the fourth quarter of 2021. Apollo Go, Baidu‘s autonomous ride-hailing service, has begun to charge fees for its autonomous ride-hailing services on open roads in Beijing, Chongqing and Yangquan. The service is now available in eight cities.