BIDU FY 2022 Earnings Report — Baidu, Inc. Revenue & Financial Results | Market Cap Arena

Baidu, Inc.BIDU

FY 2022 Earnings

Reported March 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$18.1B	—	—	—	—
Op. Income	$2.3B	—	—	—	—
Gross Margin	48.3%	—	—	—	—
Net Margin	6.1%	—	—	—	—
EPS (Diluted)	$2.90	—	—	—	—
Free Cash Flow	$2.6B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$9.3B
GROSS PROFIT	$8.7B
R&D Expenses	$3.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.0B
Other Expenses	$0
Operating Expenses	$6.4B
Cost & Expenses	$15.7B
OPERATING INCOME	$2.3B
Interest Income	$912M
Interest Expense	$426M
Other Income/Expenses	-$847M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$377M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$2.2B
EBIT	$1.9B
EBITDA	$4.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$18.1B
Cost of Revenue	$9.3B
GROSS PROFIT	$8.7B
R&D Expenses	$3.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.0B
Other Expenses	$0
Operating Expenses	$6.4B
Cost & Expenses	$15.7B
OPERATING INCOME	$2.3B
Interest Income	$912M
Interest Expense	$426M
Other Income/Expenses	-$847M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$377M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$2.2B
EBIT	$1.9B
EBITDA	$4.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$2.9B
Stock-Based Compensation	$992M
Deferred Income Tax	-$14M
Other Non-Cash Items	$1.3B
Change in Working Capital	-$2.4B
OPERATING CASH FLOW	$3.8B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$37M
Purchases of Investments	-$27.1B
Sales/Maturities of Investments	$27.8B
Other Investing Activities	-$111M
NET CASH FROM INVESTING	-$576M
Net Debt Issuance	-$995M
Common Stock Repurchased	-$281M
Common Dividends Paid	$0
Other Financing Activities	$343M
NET CASH FROM FINANCING	-$934M
FREE CASH FLOW	$2.6B
Net Change in Cash	$2.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.8B
Short-Term Investments	$17.7B
Net Receivables	$3.1B
Inventory	$179M
Other Current Assets	$1.9B
TOTAL CURRENT ASSETS	$31.1B
PP&E (Net)	$5.0B
Goodwill	$3.3B
Intangible Assets	$3.1B
Long-Term Investments	$11.5B
Tax Assets	$311M
Other Non-Current Assets	$2.8B
TOTAL NON-CURRENT ASSETS	$26.0B
TOTAL ASSETS	$57.1B
Account Payables	$0
Short-Term Debt	$3.0B
Deferred Revenue	$2.1B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$11.6B
Long-Term Debt	$9.2B
Deferred Revenue NC	$72M
Deferred Tax Liabilities	$423M
Other Non-Current Liabilities	$315M
TOTAL NON-CURRENT LIABILITIES	$10.7B
TOTAL LIABILITIES	$22.4B
Common Stock	$0
Additional Paid-In Capital	$11.7B
Retained Earnings	$21.7B
Treasury Stock	-$769M
Accum. Other Comp. Income	$80M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$32.7B
Minority Interest	$2.1B
TOTAL EQUITY	$34.7B
TOTAL LIABILITIES & EQUITY	$57.1B
Total Debt	$13.3B
Net Debt	$5.6B