← Baidu, Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $10.2b $13.0b $14.9b $15.4b $16.4b $19.5b $17.9b $19.0b $18.2b $18.5b
Revenue from Contract with Customer, Including Assessed Tax $10.2b $13.0b $14.9b $15.4b $16.4b $19.5b $17.9b $19.0b $18.2b $18.5b
Cost of Revenue $5.1b $6.6b $7.5b $9.0b $8.5b $10.1b $9.3b $9.2b $9.1b $10.4b
Gross Profit (Calculated) $5.1b $6.4b $7.3b $6.4b $8.0b $9.4b $8.7b $9.8b $9.2b $8.1b
Operating expenses:
Operating Income (Loss) $1.4b $2.4b $2.3b $906.0m $2.2b $1.7b $2.3b $3.1b $2.9b ($833.0m)
Additional Financial Items
Amortization of Intangible Assets $670.6m $1.2b — — — — — — — —
Capitalized Computer Software, Amortization $971k $1.0m — — — — — — — —
Equity Securities, FV-NI, Realized Gain (Loss) — — $18.0m $30.0m $41.0m — $13.0m $35.0m $5.0m —
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — — — $354.0m $668.0m $356.0m $106.0m $40.0m $38.0m
Foreign Currency Transaction Gain (Loss), before Tax $73.2m ($74.0m) ($18.0m) ($5.0m) ($101.0m) $16.0m ($215.0m) $84.0m $147.0m ($321.0m)
Gain (Loss) on Investments $716.0m $499.0m $1.1b $332.0m $1.8b $617.0m ($581.0m) $530.0m $356.0m $1.1b
Goodwill, Impairment Loss — — — — — — $0 $0 $0 —
Income (Loss) from Continuing Operations before Income Taxes, Domestic $2.6b $3.4b $3.4b $1.9b $3.0b $2.4b $2.7b $4.0b $3.4b $374.0m
Income (Loss) from Equity Method Investments ($147.7m) ($10.0m) ($11.0m) ($180.0m) ($345.0m) ($146.0m) ($277.0m) ($535.0m) ($95.0m) $457.0m
Interest Income, Operating — $543.0m $483.0m — — — — — — —
Investment Income, Interest $337.3m $485.0m $647.0m $870.0m $822.0m $871.0m $905.0m $1.1b $1.1b $1.2b
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $2.1b $3.3b $4.0b ($49.0m) $3.5b $1.7b $1.5b $3.5b $3.9b $960.0m
Net Income (Loss) Attributable to Parent $1.7b $2.8b $4.0b $296.0m $3.4b $1.6b $1.1b $2.9b $3.3b $799.0m
Net Income (Loss) Available to Common Stockholders, Basic $1.6b $2.8b $4.0b $285.0m $3.4b $1.6b $1.0b $2.8b $3.2b $667.0m
Net Income (Loss) Attributable to Noncontrolling Interest ($5.3m) ($2.0m) ($726.0m) ($624.0m) ($528.0m) ($414.0m) ($4.0m) $175.0m $57.0m ($19.0m)
Other income (expense):
Research and Development Expense $1.5b $2.0b $2.3b $2.6b $3.0b $3.9b $3.4b $3.4b $3.0b $2.9b
Selling, General and Administrative Expense $2.2b $2.0b $2.8b $2.9b $2.8b $3.9b $3.0b $3.3b $3.2b $3.7b
Other Nonoperating Income (Expense) $546.4m $707.0m $1.4b ($1.2b) $1.4b ($164.0m) ($832.0m) $252.0m $251.0m $825.0m
Costs and Expenses $8.7b $10.6b $12.6b $14.5b $14.2b $17.9b $15.6b $15.9b $15.3b $19.3b
Marketing and Advertising Expense $1.1b $700.0m $1.5b $1.5b $1.3b $1.9b $1.5b $1.9b $1.9b $2.2b
Financing Interest Expense — $288.0m $232.0m — — — — — — —
Interest Expense, Debt $166.7m $248.0m $274.0m $425.0m $476.0m $537.0m $422.0m $457.0m $387.0m $398.0m
Current Income Tax Expense (Benefit) $498.6m $649.0m $900.0m $511.0m $716.0m $571.0m $459.0m $537.0m $467.0m $362.0m
Nonoperating Income (Expense) $642.4m $860.0m $1.7b ($955.0m) $1.3b $40.0m ($841.0m) $472.0m $1.0b $1.8b
Income Tax Expense (Benefit) $419.6m $460.0m $690.0m $279.0m $623.0m $500.0m $374.0m $514.0m $609.0m $180.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.