Baidu announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018.
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Total revenues were RMB 27.2 billion ($3.96 billion), increasing 22% year over year, or 28% year over year excluding the impact of announced divestures.
Total revenues of Baidu Core were RMB 20.5 billion ($2.98 billion), increasing 14% year over year, or 20% year over year excluding the impact of announced divestures.
Operating income was RMB 1.1 billion ($162 million), decreasing 77% year over year, and operating margin was 4%, compared to 21% in Q4 2017.
Operating income of Baidu Core was RMB 4.4 billion ($645 million), decreasing 26% year over year, and operating margin was 22%, compared to 33% in Q4 2017.
Non-GAAP operating income was RMB 2.7 billion ($386 million), decreasing 54% year over year, and non-GAAP operating margin was 10%, compared to 26% in Q4 2017.
Non-GAAP operating income of Baidu Core was RMB 5.8 billion ($837 million), decreasing 17% year over year, and non-GAAP operating margin of Baidu Core was 28%, compared to 38% in Q4 2017.
Net income attributable to Baidu was RMB 2.1 billion ($303 million), decreasing 50% year over year, and diluted earnings attributable to Baidu per ADS was RMB 6 ($0.86), decreasing 52% year over year.
Net income attributable to Baidu Core was RMB 4.1 billion ($589 million), decreasing 22% year over year.
Non-GAAP net income attributable to Baidu was RMB 4.6 billion ($672 million), decreasing 17% year over year, and non-GAAP diluted earnings per ADS was RMB 13 ($1.92), decreasing 17% year over year.
Non-GAAP net income attributable to Baidu Core was RMB 6.5 billion ($939 million), decreasing 1% year over year.
Fiscal year 2018 financial highlights
Total revenues were RMB 102.3 billion ($14.88 billion), increasing 28% from 2017, or 31% year over year excluding the impact of announced divestures.
Total revenues of Baidu Core were RMB 78.3 billion ($11.38 billion), increasing 22% from 2017, or 26% year over year excluding the impact of announced divestures.
Operating income was RMB 15.5 billion ($2.26 billion), decreasing 1% from 2017.
Operating margin was 15%, compared to 20% in 2017.
Non-GAAP operating income was RMB 20.2 billion ($2.94 billion), increasing 7% from 2017.
Non-GAAP operating margin was 20%, compared to 24% in 2017.
Non-GAAP operating income of Baidu Core was RMB 27.9 billion ($4.06 billion), increasing 23% year over year, and non-GAAP operating margin of Baidu Core was 36%, similar to 2017.
Net income attributable to Baidu was RMB 27.6 billion ($4.01 billion), increasing 51% from 2017, and diluted earnings attributable to Baidu per ADS was RMB 78 ($11.35), increasing 49% from 2017.
Net income attributable to Baidu Core was RMB 33.6 billion ($4.89 billion), increasing 52% year over year.
Non-GAAP net income attributable to Baidu was RMB 23.3 billion ($3.39 billion), increasing 35% from 2017, and non-GAAP diluted earnings per ADS was RMB 66 ($9.64), increasing 34% from 2017.
Non-GAAP net income attributable to Baidu Core was RMB 28.5 billion ($4.14 billion), increasing 37% year over year. ■