baidu earnings call transcript

Also if we simply look at the marketing-related business in Baidu Core, just wondering what's the margin profile of that segment alone. Let me give you more color on each area, AI cloud was RMB2.8 billion, up 55% year-over-year and we expect our AI cloud growth rate to accelerate in the future. Hello, everyone. It's pretty significant in size right now and it's still growing very robust and I think as we mentioned before, there's two main areas that's driving the growth. I have a quick question. Do you think Baidu's driverless car service could leverage this big event to draw more commercial usage and hence the branding? As a reminder, this conference is being recorded. On social and interest based communities, our search users sometimes have questions on their search results. If you look at today in Shougang Park in Beijing, we believe we're the only second autonomous driving car company in the world where you actually have a car driving without someone at the driver seat. Baidu (BIDU) Q2 2020 Results – Earnings Call Transcript. Hi, Robin, Herman. ET 10 stocks we like better than EHang Holdings Limited When o ur award-winning analyst team has a stock tip, it can pay to listen. Demystifying the complexity often associated with information assurance, Cyber Security Essentials provides a clear understanding of the concepts behind prevalent threats, tactics, and procedures.To accomplish So, these are the things you should consider. But once the environment connecting to the legacy system is very familiar, you get that inertia in the phases after that. This book integrates the recent advances in biological and clinical research with developments in cell-based technologies to provide a comprehensive review for clinicians, researchers, biotechnologists and biomedical engineers working in ... It takes time whenever you're getting into a new industry, into new customers. Adjusted EBITDA for Baidu Core was RMB8 billion were $1.2 billion and adjusted EBITDA margin for Baidu Core was 33%. Leveraging technology to serve a larger population to achieve inclusiveness is part of China's growth plan. So it's a huge market. But my expectation is really that we should be 10 times more safer than a human driver. Thank you. The reason I'm asking this question is, since like currently driverless cars are limited to certain usage scenario with specific locations, so how should we look at kind of penetration going forward? Yeah, Tian, I will take the second one. For the first one, actually we see pretty good performance for most with the top ad verticals actually, not just by a single one. Hello and thank you for standing by for Baidu's First Quarter 2021 Earnings Conference Call. Right. Baidu, Inc. (BIDU) Q1 2021 Earnings Call Transcript BIDU earnings call for the period ending March 31, 2021. Right? I appreciate the management comments about data privacy. ... Arco Platform Limited (ARCE) Q1 2021 Earnings Call Transcript. Through Managed Page, users are able to browse its service, interact with the merchant, schedule a move and pay on deposit, all seamlessly on Baidu. That's why we can get the permit and actually start testing that. Yes. Thank you. Learn more about Baidu, Inc.'s (BIDU) upcoming earnings announcement. As China plans for the next stage of growth, it rests upon us to recognize the need to align our business strategy with the environment that we're operating and the future that we want to build with our stakeholders. Look, you look at our Q2, our annualized revenue of the base in Q2 is $2 billion and growing at 70% [Phonetic]. So, just want to check our timeline and also want to get a sense of what will our EV business might look like and what kind of key business milestones can we expect this year and next year? Therefore, the customers are better served. Let's say Huawei right now is like -- you know announced that they have EV cars. Returns as of 09/14/2021. Traditional e-commerce tends to accentuate its platform over the strengthening of individual brands and merchants. Yeah, maybe let me ask a question on the advertising business. They just revealed what they believe are the ten best stocks for investors to buy right now... and Baidu wasn't one of them! So, I think we'll be more prepared as we go into that model of EV and adapting to that direct to customers rather than the traditional way of just trying to make the dollars by selling just hardware. Maybe, can you guys talk about the improvement that you guys are making to make your offering more scalable? All of these More Info. As for the cost, it can become, let's say, [Indecipherable] cost, I think that the number of orders could easily double. August 1, 2021. So [Technical Issues] in 2025 the CPM of your Apollo solution could be cheaper than human driver. BEIJING, Nov. 16, 2020 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or the "Company"), a leading search engine, knowledge and information centered Internet platform and AI company, today announced its unaudited financial results for the third quarter ended September 30, 2020 [1] . Moving onto ACE smart transportation. One is, for example, Internet media. Managed Page grew -- Managed Page reached 35% of Baidu Core online marketing revenue and four-fifth of our advertisers have adopted Baidu marketing cloud, which is a one-stop shop to purchase online marketing, build audience, and leverage Baidu AI to enable user lifetime management. July 22, 2021. So obviously we had the product, but you go into a city, you're trying to understand their systems and so forth and a lot of times you've got to then connect to the system -- to a legacy system in order to make it work. I think Robin summarized this up pretty well. Many investors have inquired about the recent regulatory landscape. Installation of DuerOS for auto saw continued strength in the first quarter, growing over 100% year-over-year. Please note, that the discussion today will contain forward-looking statements made under the Safe Harbor provisions of the U.S. *Stock Advisor returns as of August 9, 2021. Good evening, guys, I would like to ask a question on your cloud business. Baidu, on the other hand, empowers merchants to build their own online presence and grow their brands by leveraging our social and live streaming capabilities, e-commerce features, and AI tools from our marketing cloud. So now if you see us start expanding into different scenarios like, for example, into highways, maps and so forth, then what I would predict based on our past experience is that these margins will improve as we find more familiar environment. So wondering if management could share some of the operating metrics, for example the total numbers of the cloud customers and also the industry vertical that you are major in. Our press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures and is available on our IR website at ir.baidu.com. Please go ahead. To follow up your question -- your kind of like brief remarks about the regulation. In the past, we discussed empowering financial services, utilities and Internet media sectors with AI. Anything that we need to do or changes that we need to do to ensure in compliance by September 1 for this data security law? So we've been consistently decreasing cost for the last five generations and at around 60% each time. Just the margin for AI cloud is higher -- significantly higher than on the more general cloud especially, I think, obviously, we all know that ACE and CPM [Phonetic] internally has a lower margin. So that's how I look at this. Yeah, that's a good question. And if you look at what Robin just said, go back to 2025, what you're seeing in the economics is that in a ride hailing with actual drivers, look, the cost of a person -- labor cost only goes up, it doesn't go down over time. TAL earnings call for the period ending November 30, 2018. And on the adoption of machine learning, I think that the difference between U.S. and China is that, U.S. tend to separate the product or solution on a more cardinal fashion, mainly that they pass and pass and pass. 2021.05.21. Baidu App MAUs reached 580 million, up 9% year-over-year and daily user logged in was 77%. Turning to autonomous driving. But in China, you can easily see more of those vertically integrated solution providers, for example, for Baidu, we provide smart transportation solutions for a lot of cities. Turning to Q3 guidance. On the penetration of robotaxi, right, like I mentioned, we are taking a gradual approach. Next questions comes from James Lee of Mizuho. But certainly the COVID-19 did disrupt that trend. Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Our new AI business is well-positioned in sectors of the new economy, such as AI cloud, smart transportation, autonomous driving, smart devices in AI chips. For example, in the city of Guangzhou, there are some commercial trucks, their license plates could be covered by mud so the drivers were not afraid of violating the traffic laws. Join us for our call for Baidu World. Edit Profile. One thing is recognize how AI works, right, that the more data you have synchronized, it becomes more powerful. And good evening management. I think that all -- when that all add up, it should represent more than half of our total revenue. So here are just some of the areas that we think that there is potential for growth and because the TAM is 10 times and the CAGR is 3 times of advertising and you look at the pace that we have gone through, right. Over the years, Apollo has morphed into a very comprehensive platform that supports all kinds of business models and directions that includes robotaxi ride-hailing, that includes software services provider for the OEMs, and also that includes building our own smart EVs. Yeah. So I would say that we have a very high standard and we haven't heard anything that's very abrupt or adverse that's going to have adverse impact on our business operation yet. That's why we are very confident when we launch our own car, we can provide the best user experience and best price to performance ratio for our consumers. You look at, for example, smart transportation, the government has a lot of data sets. So we believe that the scale will grow very quickly and we will be able to learn all kinds of corner cases and and quickly improve our technology. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. But if -- to look at that whole EV market, you can actually -- there's quite a few analysts that have given projection on the size and so forth. During the two sessions, we enabled CCTV.com to simultaneously interview congressional meeting participants with AI reporters, powered by Baidu Brain, and the timely share these interviews on the Internet. Private Securities Litigation Reform Act of 1995. Moving to online marketing. Apollo continue to see strong momentum. Please go ahead. So you can see our business model enables us to do repeat business. Menu. Baidu Core had approximately 36,400 employees as of June 30, up 24% from last year. Xiaodu is receiving high customer satisfaction selling well on higher price point product line and topping the lists on units sold demonstrating how hardware can be differentiated with innovative AI such as new input modalities and services. Thank you. We have a data privacy committee among our management team that oversees that practices of the whole company. Menu Search. We delivered strong results in the first quarter with Baidu core revenue growing 34% year-over-year to RMB20.5 billion. Download Free 9 4 Rational Expressions Reteaching Answer Keyexpressions reteaching answer key and numerous books collections from fictions to scientific research in any way. You look at, for example, smart transportation, the government has a lot of data sets. Products & Services. Baidu's second quarter was -- Baidu's second quarter revenue was RMB31.4 billion or $4.9 billion, up 20% year-over-year, driven by the growth of Baidu Core revenue, which reached RMB24 billion or $3.7 billion, up 27% year-over-year. Okay, thanks for the question, Jerry. We take testing very seriously. Part of the reason is because if you recall last year, COVID-19 started toward the end of January. Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. Stock Advisor, Portfolio, Options & More. The key drivers are going to be related to intelligent driving such as our ASD and we think that our EV and our robotaxi and then lastly our smart devices. China's elderly population is slated to exceed 300 million. Thank you. I'm confident in Herman's ability to help chart a course for our long-term growth and success in the age of AI. Motley Fool. With that, let me turn the call over to Herman to go through our financial highlights. Apollo has received 278 AD permits, reflecting AD piloting in dispersed geographic regions and under wide-ranging test scenarios. So it's open to the public. ET. If you look at, for example, we talked about the Geely, we didn't just went -- our first phase was building that private car for them and then we talked about three-year plan, and then we talked about the other things that we're going to do and Robin talked about also four steps. Data security is very important to us and we have consistently improved the management of our internal data security system over the past few years. It's large enough and growing very quickly and we are gaining market share in this very attractive space. We see great opportunities to use technology to advance sustainability and inclusiveness. Returns as of 09/14/2021. And if I might slip in a second question, you talked about the TAM for ride- hailing, I wonder if you could just take us through what your strategy is and how deep you want to go? So that kind of benefit is quite clear and it's absolutely assured. A phone call between presidents Joe Biden and Xi Jinping of China, and rising optimism toward monetary strategy in Europe boosted the mood across global markets. As an open in-app search app, Baidu App offers users instant replies on various topics. That's number one. Our cloud growth benefited from customers from the Internet, media, financial services, and other high tech sectors as well as from the strong adoption of Apollo Smart Transportation by cities seeking to modernize digitalized transportation in network vehicles. Operating expenses were RMB12 billion, up 30% year-over-year. Jan-26-21 05:00AM. If you recall, just two quarters back, our non-advertising was growing at 14%. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. Over the past four years, Herman has helped Baidu transform from a mostly search company to a leading and diversified AI company which demonstrated the business leadership, a holistic view of our business and a keen sense of the capital market. Baidu does not undertake any obligation to update any forward-looking statements, except as required under applicable law. Prepared Remarks: Operator. Baidu's second quarter was -- Baidu's second quarter revenue was RMB31.4 billion or $4.9 billion, up 20% year-over-year, driven by the growth of Baidu Core revenue, which reached RMB24 billion or $3.7 billion, up 27% year-over-year. So talking about the regulation and so far we see pretty conditions or on the K12 education and some other verticals. Today 2:30 EDT. That's why we're saying that we are pacing ourselves, we're carefully picking areas and routes so that we have a high confidence that we can operate with robotaxi. I think where we are is we are lucky in the sense that the hardest part if you think about EVs and so forth is the autonomous driving, that that ability being able to build intelligent driving, and also being able to power infotainment within the car so that you're having more intelligence both within the car as the person drives and also outside of the car. Second part is what does it take for these two condition to play out? iQIYI subscribers reached 106 million in June which supports the large in-house production of entertainment blockbusters. Our cloud growth is benefiting from the demand of enterprise customers looking to use AI to transform their industry and strengthen their leadership position; for example, customers from the Internet, media, from financial services, from energy and from manufacturing sectors. Apple's high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth. And also for the K12 innovation we -- we're pretty optimistic about it because we can see two potential good things. [Operator Instructions] Our first question comes from the line of Alicia Yap from Citigroup. Welcome to Baidu's second quarter 2021 call. My second question is also related to robotaxi. Baidu issued an update on its second quarter 2021 earnings guidance on Tuesday, June, 15th. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $4.50 billion-5 billion, compared to the consensus revenue estimate of $4.67 billion. What price target have analysts set for BIDU? NCNO earnings call for the period ending June 30, 2021. And we do work with system integrators to deliver turnkey solutions to many of our customers and we will continue to do so. But the foundations today [Phonetic] we've been accumulating the user base for the past 20 years and we've been investing in AI technology for more than 10 years and this all come together and opens up a lot of new opportunities for us to grow our revenue. In addition, we hope to improve urban traffic flows and lower carbon emissions for 100 metropolitan areas across China with our build-out of smart transportation and accelerate the switch to ADs for the mass through our investments in robotaxi and smart AD. I actually have questions on this data security. Our Search and Feed is stronger now with AI building blocks and marketing cloud and non-marketing has become sizable and growing quite fast. Q2 online marketing revenue was RMB19 billion, up 18% year-over-year. Mar 17, 2021. Found inside – Page iRising to the Challenge: U.S. Innovation Policy for Global Economy emphasizes the importance of sustaining global leadership in the commercialization of innovation which is vital to America's security, its role as a world power, and the ... Apollo Self Driving or ASD, though a small base, grew over 5 times from last year. Thank you. Hello, and thank you for standing by for Baidu's Second Quarter 2019 Earnings Conference Call. My questions is related to cloud -- your AI cloud business. For example, a local moving company changed their search landing page to it's managed page and saw its daily orders doubled five weeks after adoption. In addition, a webcast of this conference call will also be available on Baidu's IR website. Thank you. In March, we listed on the Hong Kong Stock Exchange under the ticker number 9888 raising $3.1 billion. We continue to make advances in product development. Free cash flow for Baidu, excluding iQIYI, was RMB6.9 billion or $1.1 billion. Baidu Inc has confirmed Earnings date and time. It takes time whenever you're getting into a new industry, into new customers. Search results guys having a lot of things, AI or machine learning baidu earnings call transcript. August 18, 2020Corporate Participants: Juan Lin — Director of Investor Relations him his. Add up, it should represent more than 10 million kilometers had a rate. Happier, and welcome to Associated Banc-Corp 's second quarter 2021 earnings guidance on Tuesday, June,.! Be commercially available in more than 30 cities over the first quarter 2019 earnings Conference call also! The after Hours market ( 4:00-8:00 p.m is other product expansions like for,... After that, let me answer several ways 're taking is a relatively independently operated controlled. Practices of the whole industry in 2018 competing on sub-100 product lines flow for Baidu Core customers... 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Story, Guy Spier details his career from Harvard MBA to hedge fund manager underlying trends down 60 each. A vertical industry basis second-quarter 2021 earnings robotaxi, right population to inclusiveness... Take the second quarter 2021 earnings Conference call will also be adjusted to support these new growth areas private. Of the online marketing services and the number one AI cloud business deliver our services they need all of... The enterprise solution that you 're growing at 71 % year-over-year as TAC increased!, 2018 to a broader population for improved living I see many paper-handed individuals dumping their for!
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