Baidu, Inc (BIDU) Income Statement
BIDU 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanBIDU revenue and net income
Where BIDU's revenue goes
2025Each bar shows an amount and its share of revenue. BIDU kept 4.3% of revenue as net income.
BIDU profit margins
BIDU growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.0% | +1.4% | +3.8% | +6.9% |
| Gross profit | −15.5% | −1.8% | +1.8% | +3.8% |
| Operating income | −51.3% | −13.3% | −6.3% | −1.2% |
| Net income | −76.5% | −9.6% | −24.3% | −16.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BIDU income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥129.08B | CN¥133.12B | CN¥134.60B | CN¥123.67B | CN¥124.49B | CN¥107.07B | CN¥107.41B | CN¥102.28B | CN¥84.81B | CN¥70.55B |
| Cost of revenue | CN¥72.44B | CN¥66.10B | CN¥65.03B | CN¥63.94B | CN¥64.31B | CN¥55.16B | CN¥62.85B | CN¥51.74B | CN¥43.06B | CN¥35.28B |
| Gross profit | CN¥56.64B | CN¥67.02B | CN¥69.57B | CN¥59.74B | CN¥60.18B | CN¥51.92B | CN¥44.56B | CN¥50.53B | CN¥41.75B | CN¥35.27B |
| Research & development | CN¥20.43B | CN¥22.13B | CN¥24.19B | CN¥23.32B | CN¥24.94B | CN¥19.51B | CN¥18.35B | CN¥15.77B | CN¥12.93B | CN¥10.15B |
| Sales, general & admin | CN¥25.84B | CN¥23.62B | CN¥23.52B | CN¥20.51B | CN¥24.72B | CN¥18.06B | CN¥19.91B | CN¥19.23B | CN¥13.13B | CN¥15.07B |
| Total operating expenses | CN¥46.28B | CN¥45.75B | CN¥47.71B | CN¥43.83B | CN¥49.66B | CN¥37.58B | CN¥38.26B | CN¥35.00B | CN¥26.06B | CN¥25.22B |
| Operating income | CN¥10.37B | CN¥21.27B | CN¥21.86B | CN¥15.91B | CN¥10.52B | CN¥14.34B | CN¥6.31B | CN¥15.53B | CN¥15.69B | CN¥10.05B |
| Interest income | CN¥8.60B | CN¥7.96B | CN¥8.01B | CN¥6.25B | CN¥5.55B | CN¥5.36B | CN¥6.06B | CN¥4.45B | CN¥3.15B | CN¥2.34B |
| Interest expense | CN¥2.78B | CN¥2.82B | CN¥3.25B | CN¥2.91B | CN¥3.42B | CN¥3.10B | CN¥2.96B | CN¥1.88B | CN¥1.61B | CN¥1.16B |
| Income before taxes | CN¥6.72B | CN¥28.62B | CN¥25.20B | CN¥10.11B | CN¥10.78B | CN¥23.09B | −CN¥340.0M | CN¥27.32B | CN¥21.28B | CN¥14.51B |
| Income taxes | CN¥1.26B | CN¥4.45B | CN¥3.65B | CN¥2.58B | CN¥3.19B | CN¥4.06B | CN¥1.95B | CN¥4.74B | CN¥3.00B | CN¥2.91B |
| Net income | CN¥5.59B | CN¥23.76B | CN¥20.32B | CN¥7.56B | CN¥10.23B | CN¥22.47B | CN¥2.06B | CN¥27.57B | CN¥18.30B | CN¥11.63B |
| EBITDA | CN¥30.85B | CN¥51.97B | CN¥49.90B | CN¥33.11B | CN¥36.76B | CN¥48.91B | CN¥24.76B | CN¥45.41B | CN¥34.65B | CN¥23.99B |
| Gross margin | 43.9% | 50.3% | 51.7% | 48.3% | 48.3% | 48.5% | 41.5% | 49.4% | 49.2% | 50.0% |
| Operating margin | 8.0% | 16.0% | 16.2% | 12.9% | 8.4% | 13.4% | 5.9% | 15.2% | 18.5% | 14.2% |
| Net margin | 4.3% | 17.8% | 15.1% | 6.1% | 8.2% | 21.0% | 1.9% | 27.0% | 21.6% | 16.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥31.24B | CN¥32.08B | CN¥32.74B | CN¥31.17B | CN¥32.71B | CN¥32.45B | CN¥34.12B | CN¥33.56B | CN¥33.93B | CN¥31.51B | CN¥34.95B | CN¥34.45B |
| Cost of revenue | CN¥19.04B | CN¥19.59B | CN¥18.28B | CN¥18.32B | CN¥18.36B | CN¥17.49B | CN¥18.01B | CN¥16.40B | CN¥16.40B | CN¥15.29B | CN¥17.42B | CN¥16.29B |
| Gross profit | CN¥12.19B | CN¥12.49B | CN¥14.46B | CN¥12.86B | CN¥14.36B | CN¥14.96B | CN¥16.11B | CN¥17.16B | CN¥17.53B | CN¥16.22B | CN¥17.53B | CN¥18.15B |
| Research & development | CN¥4.59B | CN¥4.38B | CN¥5.59B | CN¥5.18B | CN¥5.12B | CN¥4.54B | CN¥5.51B | CN¥5.37B | CN¥5.89B | CN¥5.36B | CN¥6.29B | CN¥6.10B |
| Sales, general & admin | CN¥4.60B | CN¥4.91B | CN¥7.39B | CN¥6.58B | CN¥5.96B | CN¥5.91B | CN¥7.12B | CN¥5.87B | CN¥5.70B | CN¥417.0M | CN¥7.35B | CN¥7.35B |
| Total operating expenses | CN¥9.18B | CN¥9.29B | CN¥12.98B | CN¥11.76B | CN¥11.08B | CN¥10.46B | CN¥12.19B | CN¥11.23B | CN¥11.59B | CN¥10.74B | CN¥12.14B | CN¥11.88B |
| Operating income | CN¥3.02B | CN¥3.19B | CN¥1.48B | CN¥1.10B | CN¥3.28B | CN¥4.51B | CN¥3.92B | CN¥5.92B | CN¥5.94B | CN¥5.48B | CN¥5.39B | CN¥6.27B |
| Interest income | CN¥1.69B | CN¥1.96B | CN¥2.05B | CN¥1.93B | CN¥1.96B | CN¥2.66B | CN¥2.00B | CN¥1.88B | CN¥1.99B | CN¥2.06B | CN¥2.06B | CN¥2.08B |
| Interest expense | CN¥606.3M | CN¥636.0M | CN¥651.0M | CN¥631.0M | CN¥701.0M | CN¥801.0M | CN¥643.0M | CN¥673.0M | CN¥742.0M | CN¥766.0M | CN¥774.0M | CN¥853.0M |
| Income before taxes | CN¥3.20B | CN¥3.82B | CN¥2.73B | −CN¥13.14B | CN¥8.14B | CN¥8.99B | CN¥6.58B | CN¥8.60B | CN¥6.71B | CN¥6.73B | CN¥2.87B | CN¥8.18B |
| Income taxes | CN¥997.2M | CN¥528.0M | CN¥1.03B | −CN¥1.83B | CN¥881.0M | CN¥1.18B | CN¥1.62B | CN¥814.0M | CN¥1.13B | CN¥883.0M | −CN¥96.0M | CN¥1.28B |
| Net income | CN¥2.31B | CN¥3.44B | CN¥1.78B | −CN¥11.23B | CN¥7.32B | CN¥7.72B | CN¥5.19B | CN¥7.63B | CN¥5.49B | CN¥5.45B | CN¥2.60B | CN¥6.68B |
| EBITDA | CN¥5.44B | CN¥6.65B | CN¥5.14B | −CN¥10.22B | CN¥10.97B | CN¥11.75B | CN¥16.88B | CN¥11.04B | CN¥9.15B | CN¥9.11B | CN¥13.28B | CN¥11.00B |
| Gross margin | 39.0% | 38.9% | 44.2% | 41.2% | 43.9% | 46.1% | 47.2% | 51.1% | 51.7% | 51.5% | 50.2% | 52.7% |
| Operating margin | 9.7% | 10.0% | 4.5% | 3.5% | 10.0% | 13.9% | 11.5% | 17.7% | 17.5% | 17.4% | 15.4% | 18.2% |
| Net margin | 7.4% | 10.7% | 5.4% | −36.0% | 22.4% | 23.8% | 15.2% | 22.7% | 16.2% | 17.3% | 7.4% | 19.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in BIDU's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BIDU financial results
In fiscal year 2025 (ended December 31, 2025), Baidu reported revenue of CN¥129.1 billion, down 3.0% from the year before. It had net income of CN¥5.6 billion (down 76.5%), a net profit margin of 4.3%. Over five years revenue grew at an average rate of 3.8% a year. Figures are in Chinese yuan, the currency of its financial statements.
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BIDU income statement FAQ
What is Baidu's annual revenue?
Baidu reported total revenue of CN¥129.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.0% from CN¥133.1 billion the previous year.
Is Baidu profitable?
Yes. Baidu reported net income of CN¥5.6 billion in fiscal 2025, a net profit margin of 4.3%; its operating margin was 8.0%.
What is Baidu's gross margin?
Baidu's gross margin was 43.9% in fiscal 2025: for every $100 of revenue, Baidu kept $44 after the direct cost of its products and services.
How much does Baidu spend on research and development?
Baidu spent CN¥20.4 billion on research and development in fiscal 2025, 15.8% of revenue.
How fast is Baidu growing?
Revenue grew 3.8% a year on average over the last five fiscal years, from CN¥107.1 billion to CN¥129.1 billion.
When will Baidu report its next earnings?
Baidu is expected to report results for the quarter ending September 30, 2026 on November 17, 2026.
When does Baidu's fiscal year end?
Baidu's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 17, 2026.