Sina Science and Technology news on February 22 afternoon news, Baidu released unaudited financial reports for the fourth quarter and full year ended December 31, 2022. In 2022, Baidu achieved revenue of 123.675 billion yuan and net profit attributable to Baidu (non-GAAP) of 20.68 billion yuan, up 10% year on year. In the fourth quarter, Baidu reported revenue of 33.077 billion yuan and net profit attributable to Baidu (non-GAAP) of 5.371 billion yuan, up 32% from the same period last year. In the 2022 fiscal year, Baidu's core performance exceeded market expectations for four consecutive quarters.

Baidu's core operating profit (non-US GAAP) increased by 14% year-on-year in the second half of 2022, thanks to continued cost reduction and efficiency improvement and streamlined operations. In the fourth quarter, when the COVID-19 epidemic hit the macro economy, Baidu's operating profit and operating profit margin also achieved year-on-year growth. In addition, Baidu's board of directors has authorized a $5 billion share repurchase program through Dec. 31, 2025.

"2022 has been a challenging year, and Baidu has used this time to prepare itself for better times. The path is clear for Baidu to return to accelerated core revenue growth in 2023, and we are well positioned to take advantage of the opportunities presented by China's economic recovery." Robin Li, founder, Chairman and CEO of Baidu, said, "With our long-term investment in AI, Baidu is well positioned to seize the coming AI inflection point and open up entirely new opportunities for our entire business portfolio, from mobile ecology to intelligent cloud, autonomous driving, intelligent hardware and more." (in the article)