Page 1

Baidu Announces Third Quarter 2021 Results BEIJING , China , November 17 , 2021 - Baidu , Inc. ( NASDAQ : BIDU and HKEX : 9888 ) ( " Baidu " or the " Company " ) , a leading Al company with strong Internet foundation , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . " Baidu is bringing innovation across the consumer , enterprise and public sector with our commitment to AI , " said Robin Li , co - founder and CEO of Baidu . " Our Al Cloud is helping businesses better serve customers and move faster with greater efficiency . We are building Baidu Apollo smart transportation and intelligent driving to smoothen traffic congestion , accelerate the move to EV and reduce traffic accidents . " " Baidu Core delivered another solid quarter , powered by our Al cloud revenue growing 73 % year over year , " said Rong Luo , CFO of Baidu . " With a diversified Al portfolio , including cloud services , smart transportation , smart devices , self - driving , smart EV and robotaxi , we are well positioned for long - term growth . " Third Quarter 2021 Financial Highlights¹ ( In millions except per ADS , unaudited ) Q3 2020 Q2 Baidu , Inc. Q3 2021 2021 YOY QOQ Total revenues RMB RMB RMB US $ 28,232 31,350 31,921 4,954 13 % 2 % Operating income 6,156 Operating income ( non - GAAP ) 2 7,636 3,463 2,308 358 ( 63 % ) ( 33 % ) 5,653 4,708 731 ( 38 % ) ( 17 % ) Net income ( loss ) to Baidu 13,678 ( 583 ) ( 16,559 ) ( 2,570 ) Net income to Baidu ( non - GAAP ) 2 6,988 5,359 5,090 790 - 2740 % ( 27 % ) ( 5 % ) Diluted earnings ( loss ) per ADS 39.79 Diluted earnings per ADS ( non - GAAP ) 2 20.35 15.41 ( 1.70 ) ( 48.18 ) ( 7.48 ) 14.66 - 2734 % 2.28 ( 28 % ) ( 5 % ) - Adjusted EBITDA 2 9,073 7,295 5,962 Adjusted EBITDA margin 32 % 23 % 19 % 925 ( 34 % ) ( 18 % ) 19 % 1 Unless otherwise noted , RMB to USD was converted at an exchange rate of RMB6.4434 as of September 30 , 2021 , as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System . Translations are provided solely for the convenience of the reader . 2 Non - GAAP measures are defined in the Non - GAAP Financial Measures section ( see also " Reconciliations of Non- GAAP Financial Measures to the Nearest Comparable GAAP Measures " for more details ) . 1/8