BIDU Q3 2017 Earnings Report — Baidu, Inc. Revenue & Financial Results | Market Cap Arena

Baidu, Inc.BIDU

Q3 2017 Earnings

Reported September 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2017	Q2 2017	Q3 2016	QoQ Change	YoY Change
Revenue	$3.4B	$3.0B	$2.7B	12.5%	28.7%
Op. Income	$686M	$614M	$407M	11.6%	68.6%
Gross Margin	49.8%	49.3%	49.3%	0.5pp	0.5pp
Net Margin	33.8%	21.2%	17.0%	12.7pp	16.8pp
EPS (Diluted)	$3.32	$2.10	$1.31	57.8%	153.6%
Free Cash Flow	$909M	$929M	$0	-2.1%	—

Revenue Flow

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.7B
R&D Expenses	$473M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$547M
Other Expenses	$0
Operating Expenses	$1.0B
Cost & Expenses	$2.7B
OPERATING INCOME	$686M
Interest Income	$128M
Interest Expense	$81M
Other Income/Expenses	$634M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$160M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	-$68M
BOTTOM LINE NET INCOME	$1.2B
D&A	$524M
EBIT	$1.4B
EBITDA	$1.9B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.7B
R&D Expenses	$473M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$547M
Other Expenses	$0
Operating Expenses	$1.0B
Cost & Expenses	$2.7B
OPERATING INCOME	$686M
Interest Income	$128M
Interest Expense	$81M
Other Income/Expenses	$634M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$160M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	-$68M
BOTTOM LINE NET INCOME	$1.2B
D&A	$524M
EBIT	$1.4B
EBITDA	$1.9B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$524M
Stock-Based Compensation	$123M
Deferred Income Tax	-$22M
Other Non-Cash Items	-$654M
Change in Working Capital	$453M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$675M
Acquisitions (Net)	$143M
Purchases of Investments	-$12.9B
Sales/Maturities of Investments	$10.9B
Other Investing Activities	-$759M
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$1.7B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$112M
NET CASH FROM FINANCING	$1.8B
FREE CASH FLOW	$909M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$16.7B
Net Receivables	$835M
Inventory	$0
Other Current Assets	$2.9B
TOTAL CURRENT ASSETS	$22.6B
PP&E (Net)	$1.8B
Goodwill	$2.3B
Intangible Assets	$714M
Long-Term Investments	$6.7B
Tax Assets	$224M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$12.9B
TOTAL ASSETS	$35.5B
Account Payables	$3.6B
Short-Term Debt	$3.2B
Deferred Revenue	$1.2B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$13.3B
Long-Term Debt	$5.3B
Deferred Revenue NC	$11M
Deferred Tax Liabilities	$507M
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$5.9B
TOTAL LIABILITIES	$19.1B
Common Stock	$0
Additional Paid-In Capital	$1.6B
Retained Earnings	$14.3B
Treasury Stock	$0
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.9B
Minority Interest	$481M
TOTAL EQUITY	$16.4B
TOTAL LIABILITIES & EQUITY	$35.5B
Total Debt	$8.6B
Net Debt	$6.3B