Analyst Consensus ?
ConsensusBuy51 ratings
Bullish3976.5%
Neutral1121.6%
Bearish11.9%
1 unmapped firm rating excluded from the percentages.
Baidu, Inc. · BIDU · FY2025 Q3 · Calendar Q4 2025
Baidu’s AI growth accelerates as investment and impairment risks remain
The current analysis supports a constructive but qualified view: AI Cloud, AI-native marketing and Apollo Go showed strong operating momentum, but the path to durable earnings growth remains dependent on monetization, cost discipline, capex returns and regulatory execution.
Reported Before market openNASDAQCommunication Services
$29.11B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.56
Consensus $1.20
EPS surprise
+30.0%
Reported versus consensus
Reported revenue
$4.38B
Consensus $4.66B
Revenue surprise
-6.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.7%
Event window
SPY move
-0.8%
Same window
Abnormal move
+3.5%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+2.0%
Up to 20 sessions
BIDUSPY benchmark
Ask FN2 about BIDU FY2025 Q3
Transcript, numbers and history already loaded
Why did BIDU rise 2.7% after beating EPS estimates in FY2025 Q3?What changed in BIDU's guidance and outlook in FY2025 Q3?Give me the bull and bear case for BIDU after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current analysis shows stronger disclosed AI-native marketing growth, broader Apollo Go deployment and the launch of ERNIE 5.0, alongside a substantial asset impairment and reaffirmed heavy investment.
Guidance delta
Maintained; management reaffirmed continued AI investment, capex growth, product rollout and robotaxi expansion.
Key takeaways
- The analysis describes 21% year-over-year AI Cloud growth, led by a 128% increase in subscription-based AI accelerator revenue.
- AI-native marketing services rose 262% and represented 18% of online marketing revenue, according to the analysis.
- Apollo Go delivered 3.1 million fully driverless rides, up 212% year over year, and expanded to 22 cities.
- A RMB 16.2 billion asset impairment drove much of the RMB 11.2 billion net loss, while non-GAAP operating income turned positive.
Management priorities
- Scale AI Cloud, ERNIE 5.0, agents and digital humans.
- Continue investment in AI infrastructure while improving utilization efficiency.
- Expand Apollo Go through international and asset-light partnerships.
- Explore dividend policy and refined share-buyback mechanisms.
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Beat
Miss
Match
Analyst 52W Price Targets
$84.41Current
$80Low
$170.22Average
$350High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Susquehanna | Neutral | Neutral | Maintain | Aug 28, 2026 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | Aug 19, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 19, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 17, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 14, 2026 |
| Freedom Capital Markets | Buy | Buy | Maintain | Jan 7, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Jan 7, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 2, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 19, 2025 |
| Macquarie | Outperform | Neutral | Upgrade | Oct 10, 2025 |
| DBS Bank | Buy | Hold | Upgrade | Sep 25, 2025 |
| Arete Research | Buy | Sell | Upgrade | Sep 16, 2025 |
| Citigroup | Buy | Buy | Maintain | Jul 17, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Feb 19, 2025 |
| HSBC | Hold | Buy | Downgrade | Sep 24, 2024 |
| Loop Capital | Buy | Buy | Maintain | Aug 26, 2024 |
| Bernstein | Outperform | Outperform | Maintain | Aug 13, 2024 |
| Nomura Instinet | Buy | Neutral | Upgrade | Nov 22, 2023 |
| OTR Global | Mixed | Positive | Downgrade | Jul 27, 2023 |
| UBS | Buy | Buy | Maintain | Apr 21, 2023 |
| China Renaissance | Buy | Buy | Maintain | Mar 2, 2022 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 13, 2021 |
| Keybanc | Overweight | Overweight | Maintain | Aug 13, 2021 |
| CLSA | Buy | Buy | Maintain | May 19, 2021 |
| Nomura | Neutral | Neutral | Maintain | May 20, 2020 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 11, 2020 |
| Daiwa Capital | Outperform | Hold | Upgrade | Nov 8, 2019 |
| CCB International | Outperform | Neutral | Upgrade | Nov 8, 2019 |
| Credit Suisse | Outperform | Neutral | Upgrade | Jul 9, 2018 |
| Wells Fargo | Outperform | Outperform | Maintain | Sep 27, 2017 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Jan 10, 2017 |
| Stifel | Buy | Hold | Upgrade | Jan 10, 2017 |
| Evercore ISI Group | Hold | Hold | Maintain | Dec 20, 2016 |
| Brean Capital | Buy | Hold | Upgrade | Apr 29, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Oct 30, 2015 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 30, 2015 |
| Summit Research Partners | Hold | Buy | Downgrade | Sep 30, 2015 |
| Summit Insights Group | Hold | Buy | Downgrade | Sep 30, 2015 |
| Pacific Crest | Overweight | Downgrade | Jul 28, 2015 | |
| Bank of America | Buy | Buy | Maintain | Jul 15, 2015 |
| TH Capital | Buy | Hold | Upgrade | May 4, 2015 |
| T.H. Capital | Buy | Hold | Upgrade | May 4, 2015 |
| CICC | Hold | Buy | Downgrade | May 1, 2015 |
| Exane BNP Paribas | Buy | Reduce | Upgrade | Jul 27, 2014 |
| Maxim Group | Buy | Hold | Upgrade | Jan 10, 2014 |
| 86 Research | Buy | Hold | Upgrade | Apr 10, 2013 |
| Raymond James | Market Perform | Outperform | Downgrade | Feb 5, 2013 |
| JG Capital | Overweight | Overweight | Maintain | Dec 6, 2012 |
| Mirae Asset | Buy | Buy | Maintain | Jul 18, 2012 |
| CIMB | Outperform | Outperform | Maintain | Jul 6, 2012 |
| China International Capital | Buy | Buy | Maintain | Apr 26, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $84.41. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Arete Research | Analyst unavailable | $108 | $99.47 | +27.9% | Sep 7, 2026 |
| Barclays | Analyst unavailable | $96 | $90.87 | +13.7% | Aug 19, 2026 |
| Morgan Stanley | Analyst unavailable | $80 | $90.87 | -5.2% | Aug 19, 2026 |
| Barclays | Jiong Shao | $124 | $113.39 | +46.9% | Jul 13, 2026 |
| Susquehanna | Analyst unavailable | $140 | $137.68 | +65.9% | May 20, 2026 |
| Macquarie | Analyst unavailable | $158 | $118.23 | +87.2% | Apr 14, 2026 |
| Barclays | Jiong Shao | $128 | $118.95 | +51.6% | Mar 5, 2026 |
| Macquarie | Ellie Jiang | $177 | $125.15 | +109.7% | Feb 26, 2026 |
| US Tiger Securities | Bo Pei | $150 | $137.86 | +77.7% | Feb 4, 2026 |
| Barclays | Jiong Shao | $147 | $161.44 | +74.1% | Jan 26, 2026 |
| Morgan Stanley | Gary Yu | $150 | $151.37 | +77.7% | Jan 20, 2026 |
| UBS | Analyst unavailable | $215 | $152.3 | +154.7% | Jan 12, 2026 |
| Jefferies | Thomas Chong | $181 | $130.66 | +114.4% | Jan 2, 2026 |
| Susquehanna | Shyam Patel | $110 | $110.95 | +30.3% | Nov 24, 2025 |
| UBS | Analyst unavailable | $188 | $110.95 | +122.7% | Nov 24, 2025 |
| Nomura | Analyst unavailable | $140 | $115.49 | +65.9% | Nov 19, 2025 |
| Goldman Sachs | Lincoln Kong | $155 | $115.49 | +83.6% | Nov 19, 2025 |
| Deutsche Bank | Analyst unavailable | $160 | $127.04 | +89.6% | Nov 6, 2025 |
| Daiwa | John Choi | $160 | $120.62 | +89.6% | Oct 14, 2025 |
| Macquarie | Analyst unavailable | $176 | $132.4 | +108.5% | Oct 10, 2025 |
| Susquehanna | Analyst unavailable | $95 | $96.29 | +12.5% | Sep 2, 2025 |
| Barclays | Jiong Shao | $84 | $84.07 | -0.5% | May 22, 2025 |
| US Tiger Securities | Bo Pei | $120 | $81.63 | +42.2% | Nov 21, 2024 |
| CLSA | Elinor Leung | $120 | $91.7 | +42.2% | Nov 8, 2024 |
| Jefferies | Thomas Chong | $134 | $91.3 | +58.7% | Oct 21, 2024 |
| HSBC | Charlene Liu | $100 | $88.28 | +18.5% | Sep 24, 2024 |
| Susquehanna | Shyam Patil | $105 | $82.78 | +24.4% | Sep 5, 2024 |
| Goldman Sachs | Lincoln Kong | $129 | $86.33 | +52.8% | Aug 26, 2024 |
| Loop Capital Markets | Rob Sanderson | $115 | $87.22 | +36.2% | Aug 26, 2024 |
| Bernstein | Boris Van | $97 | $85.79 | +14.9% | Aug 23, 2024 |
| Barclays | Jiong Shao | $115 | $85.79 | +36.2% | Aug 23, 2024 |
| Jefferies | Thomas Chong | $139 | $86.06 | +64.7% | Aug 22, 2024 |
| Bernstein | Boris Van | $130 | $85.23 | +54.0% | Aug 13, 2024 |
| Loop Capital Markets | Rob Sanderson | $130 | $88.81 | +54.0% | Jun 21, 2024 |
| Susquehanna | Shyam Patel | $135 | $100.58 | +59.9% | May 24, 2024 |
| Barclays | Jiong Shao | $133 | $110.94 | +57.6% | May 17, 2024 |
| Raymond James | James Lee | $130 | $110.97 | +54.0% | May 17, 2024 |
| UBS | Wei Xiong | $165 | $112.59 | +95.5% | May 17, 2024 |
| Morgan Stanley | Gary Yu | $125 | $112.59 | +48.1% | May 17, 2024 |
| CFRA | Angelo Zino | $120 | $112.59 | +42.2% | May 16, 2024 |
| US Tiger Securities | Bo Pei | $155 | $101.61 | +83.6% | Apr 11, 2024 |
| Morgan Stanley | Gary Yu | $140 | $103.68 | +65.9% | Apr 8, 2024 |
| Jefferies | Thomas Chong | $179 | $104.27 | +112.1% | Apr 8, 2024 |
| Goldman Sachs | Lincoln Kong | $174 | $118.03 | +106.1% | Nov 29, 2023 |
| Citigroup | Alicia Yap | $182 | $132.41 | +115.6% | Aug 23, 2023 |
| Mizuho Securities | James Lee | $170 | $129.46 | +101.4% | May 17, 2023 |
| Mizuho Securities | James Lee | $190 | $136.69 | +125.1% | Apr 11, 2023 |
| Goldman Sachs | Analyst unavailable | $186 | $133.66 | +120.4% | Jan 9, 2023 |
| Citigroup | Alicia Yap | $166 | $94.64 | +96.7% | Nov 29, 2022 |
| Goldman Sachs | Analyst unavailable | $176 | $97.18 | +108.5% | Nov 23, 2022 |
| UBS | Analyst unavailable | $175 | $95.08 | +107.3% | Nov 23, 2022 |
| Susquehanna | Analyst unavailable | $195 | $138.53 | +131.0% | Sep 12, 2022 |
| Mizuho Securities | James Lee | $275 | $144.79 | +225.8% | Aug 31, 2022 |
| Citigroup | Analyst unavailable | $204 | $145.41 | +141.7% | Aug 31, 2022 |
| Mizuho Securities | James Lee | $285 | $148.73 | +237.6% | Jun 30, 2022 |
| HSBC | Charlene Liu | $186 | $131.88 | +120.4% | Jun 14, 2022 |
| Citigroup | Analyst unavailable | $223 | $136.19 | +164.2% | May 27, 2022 |
| Jefferies | Thomas Chong | $270 | $133.05 | +219.9% | Apr 11, 2022 |
| Citigroup | Alicia Yap | $254 | $160.57 | +200.9% | Mar 2, 2022 |
| China Renaissance Securities (US) Inc. | Ella Ji | $228 | $160.57 | +170.1% | Mar 2, 2022 |
| UBS | Jerry Liu | $230 | $159.36 | +172.5% | Jan 12, 2022 |
| Benchmark Co. | Fawne Jiang | $330 | $154.36 | +290.9% | Nov 18, 2021 |
| CLSA | Elinor Leung | $285 | $154.36 | +237.6% | Nov 18, 2021 |
| Barclays | Jiong Shao | $243 | $162.27 | +187.9% | Nov 2, 2021 |
| Loop Capital Markets | Rob Sanderson | $240 | $163.26 | +184.3% | Sep 13, 2021 |
| Oppenheimer | Jason Helfstein | $320 | $152.45 | +279.1% | Aug 13, 2021 |
| D.A. Davidson | Hans Chung | $270 | $152.45 | +219.9% | Aug 13, 2021 |
| Nomura | Jialong Shi | $187 | $159.63 | +121.5% | Aug 12, 2021 |
| Credit Suisse | Kenneth Fong | $350 | $193.31 | +314.6% | May 20, 2021 |
| Macquarie | Han Joon Kim | $215 | $189.16 | +154.7% | May 19, 2021 |
Track every rating change on BIDU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBaidu, Inc. is a prominent Chinese technology company that offers various internet-based services, primarily focusing on digital marketing and cloud computing, all delivered through its extensive online platform within the People's Republic of China. The company's operations are segmented into two main divisions: Baidu Core and iQIYI. The Baidu Core segment encompasses a wide array of services, including online marketing derived from search queries and user feeds, comprehensive cloud solutions, and innovative products and services developed from its artificial intelligence initiatives. This segment also operates Haokan, a popular short-video platform featuring both user-generated and professionally produced content. Conversely, the iQIYI segment is dedicated to its online entertainment video platform, which provides a diverse selection of media content, including original productions, professionally created shows, and material acquired from partners. Baidu was founded in the year 2000 and maintains its corporate headquarters in Beijing, China.
Historical context
All BIDU earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the BIDU recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T17:06:13.520258+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T17:06:13.517824+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.