BIDU Q4 2017 Earnings Report — Baidu, Inc. Revenue & Financial Results | Market Cap Arena

Baidu, Inc.BIDU

Q4 2017 Earnings

Reported December 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$3.4B	$3.4B	$2.7B	0.3%	29.3%
Op. Income	$697M	$686M	$319M	1.6%	118.5%
Gross Margin	51.4%	49.8%	46.6%	1.6pp	4.8pp
Net Margin	17.7%	33.8%	22.7%	-16.2pp	-5.0pp
EPS (Diluted)	$1.73	$3.32	$1.96	-47.9%	-11.9%
Free Cash Flow	$1.1B	$909M	$0	23.2%	—

Revenue Flow

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.8B
R&D Expenses	$541M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$530M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$2.7B
OPERATING INCOME	$697M
Interest Income	$134M
Interest Expense	$58M
Other Income/Expenses	$46M
INCOME BEFORE TAX	$743M
Income Tax Expense	$136M
Net Income from Continuing Ops	$607M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$607M
Net Income Deductions	-$28M
BOTTOM LINE NET INCOME	$635M
D&A	$388M
EBIT	$801M
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.8B
R&D Expenses	$541M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$530M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$2.7B
OPERATING INCOME	$697M
Interest Income	$134M
Interest Expense	$58M
Other Income/Expenses	$46M
INCOME BEFORE TAX	$743M
Income Tax Expense	$136M
Net Income from Continuing Ops	$607M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$607M
Net Income Deductions	-$28M
BOTTOM LINE NET INCOME	$635M
D&A	$388M
EBIT	$801M
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$607M
Depreciation & Amortization	$388M
Stock-Based Compensation	$142M
Deferred Income Tax	-$20M
Other Non-Cash Items	$1M
Change in Working Capital	$316M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$314M
Acquisitions (Net)	$8M
Purchases of Investments	-$11.3B
Sales/Maturities of Investments	$10.8B
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	-$23M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$140M
NET CASH FROM FINANCING	$117M
FREE CASH FLOW	$1.1B
Net Change in Cash	-$689M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$15.7B
Net Receivables	$737M
Inventory	$0
Other Current Assets	$3.8B
TOTAL CURRENT ASSETS	$22.1B
PP&E (Net)	$1.8B
Goodwill	$2.3B
Intangible Assets	$798M
Long-Term Investments	$8.2B
Tax Assets	$224M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$14.7B
TOTAL ASSETS	$36.7B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$1.3B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$12.0B
Long-Term Debt	$5.2B
Deferred Revenue NC	$11M
Deferred Tax Liabilities	$493M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$5.7B
TOTAL LIABILITIES	$17.7B
Common Stock	$0
Additional Paid-In Capital	$1.8B
Retained Earnings	$14.9B
Treasury Stock	$0
Accum. Other Comp. Income	$136M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.8B
Minority Interest	$2.2B
TOTAL EQUITY	$19.0B
TOTAL LIABILITIES & EQUITY	$36.7B
Total Debt	$6.4B
Net Debt	$4.7B