Baidu Inc. (BIDU.US, 9888.HK) reported fourth quarter 2024 results that underscore its commitment to AI and autonomous driving. The tech giant maintained its quarterly revenue at about $4.7 billion, while its net income doubled to $711 million. Its Baidu Core revenue, which includes its search business, held steady at around $3.8 billion, and non-advertising revenue climbed 18% year-on-year to $1.34 billion, mainly driven by its AI Cloud business.
Baidu’s Apollo Go autonomous taxi unit logged over 1.1 million rides in the fourth quarter, up 36% from the previous year – placing it almost on par with competitors like Waymo in terms of annual rides. Meanwhile, Apollo Go also secured permits for open-road testing in Hong Kong and achieved 100% driverless operations across China in February.
By Brent Li
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