Baidu, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.46B | $18.24B | $18.96B | $17.93B | $19.54B | $16.41B | $15.43B | $14.88B |
| Cost of Revenue | $10.36B | $9.06B | $9.16B | $9.27B | $10.09B | $8.45B | $9.03B | $7.53B |
| Gross Profit | $8.10B | $9.18B | $9.80B | $8.66B | $9.44B | $7.96B | $6.40B | $7.35B |
| Gross Margin | 43.9% | 50.3% | 51.7% | 48.3% | 48.3% | 48.5% | 41.5% | 49.4% |
| Operating Expenses | ||||||||
| Research & Development | $2.92B | $3.03B | $3.41B | $3.38B | $3.91B | $2.99B | $2.64B | $2.29B |
| SG&A Expense | $3.70B | $3.24B | $3.31B | $2.98B | $3.88B | $2.77B | $2.86B | $2.80B |
| Operating Income | $-833.0M | $2.91B | $3.08B | $2.31B | $1.65B | $2.20B | $906.0M | $2.26B |
| Operating Margin | -4.5% | 16.0% | 16.2% | 12.9% | 8.5% | 13.4% | 5.9% | 15.2% |
| Interest Expense | $398.0M | $387.0M | $457.0M | $422.0M | $537.0M | $476.0M | $425.0M | $274.0M |
| Pretax Income | $960.0M | $3.92B | $3.55B | $1.47B | $1.69B | $3.54B | $-49.0M | $3.97B |
| Income Tax Expense | $180.0M | $609.0M | $514.0M | $374.0M | $500.0M | $623.0M | $279.0M | $690.0M |
| Net Income | $799.0M | $3.26B | $2.86B | $1.10B | $1.61B | $3.44B | $296.0M | $4.01B |
| Net Margin | 4.3% | 17.8% | 15.1% | 6.1% | 8.2% | 21.0% | 1.9% | 27.0% |
| EPS (Basic) | — | — | — | — | — | — | — | — |
| EPS (Diluted) | — | — | — | — | — | — | — | — |
| Shares Outstanding (Basic) | — | — | — | — | — | — | — | — |
| Shares Outstanding (Diluted) | — | — | — | — | — | — | — | — |
| Dividends Per Share | — | — | — | — | — | — | — | — |