自2024年8月我们上一次对百度（NASDAQ：BIDU）的报道以来

今年，BIDU股票在2月和3月中旬徘徊了两次，每股价格水平约为100美元。

Since our last coverage of Baidu (NASDAQ:BIDU) in August 2024, the stock price level is now slightly higher, at $89.53 from $86.96 per share.

自2024年8月我们对百度（NASDAQ：BIDU）的最后一次报道以来，股票价格水平现在略高，为89.53美元，价格从每股86.96美元起。

However, within that period, there have been multiple opportunities to lock in high profits.

但是，在此期间，有很多机会可以锁定高利润。

Just over a month later in early October, BIDU shares reached a $115 yearly top. This year, BIDU stock hovered two times, in February and mid-March, around $100 per share price level.

仅一个多月后的10月初，Bidu股票每年达到115美元。今年，BIDU股票在2月和3月中旬徘徊了两次，每股价格水平约为100美元。

As a repeat performer, the “Google of China” is clearly worth considering for Big Tech exposure from the East, one that is still much cheaper than the likes of Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG).

作为一名重复的表演者，“中国的Google”显然值得考虑从东方的大型技术曝光，这仍然比微软（NASDAQ：MSFT）和Alphabet（Nasdaq：Goog）等人便宜得多。

The latest Baidu earnings for Q1 2025 delivered on Wednesday showcase continued growth, as the company beat revenue estimates.

随着公司击败收入估计，第1季度2025年第1季度的百度收入持续增长。

Although there is more than earnings to consider when it comes to Baidu, let’s first see the quarterly financial performance.

尽管在百度方面，还有不仅仅是收入要考虑，但首先让我们看看季度的财务绩效。

AI Cloud Boost Headed by ERNIE

AI Cloud Boost由Ernie领导

At reported 32.45 RMB ($4.47B), Baidu beat FactSet’s expected revenue of 32.45 billion yuan. Year-over-year, this is 3% revenue improvement. The company’s net income to Baidu Core grew by 48% in that period to $1 billion.

据报道，百度报道了32.45元人民币（$ 4.47b），击败了Factset的预期收入为324.5亿元人民币。同比，这是3％的收入提高。在此期间，该公司对百度核心的净收入增长了48％，达到了10亿美元。

However, when excluding non-recurring items, as a non-GAAP measure, Baidu’s net income is $872 million, down 4% year-over-year.

但是，当不包括非重新调查的物品作为非GAAP措施时，百度的净收入为8.72亿美元，同比下降4％。

Similar to Alphabet, Baidu Core consists of AI Cloud, Mobile Ecosystem and Intelligent Driving & Other Growth Initiatives (iQIYI). Ad revenue is still the company’s largest revenue source, down 6% to 16 billion yuan ($2.21B) year-over-year.

与字母类似，百度核心由AI云，移动生态系统以及智能驾驶和其他增长计划（IQIYI）组成。广告收入仍然是该公司最大的收入来源，同比下降6％至160亿元人民币（2.21b）。

Baidu’s AI Cloud showed the largest growth, at 42% yoy. Like Google and Amazon, Baidu offers full-stack service for enterprises. Covering both front-end and back-end aspects of AI deployment, otherwise known as full-stack, Baidu designs its own Kunlun AI chips, as well as having the PaddlePaddle deep learning framework.

百度的AI云显示出最大的增长，同比增长42％。像Google和Amazon一样，百度为企业提供全栈服务。 Baidu涵盖了人工智能部署的前端和后端方面，也称为全栈，设计了自己的Kunlun AI芯片，并拥有PaddlePaddle深入学习框架。

On top of those full-stack layers, Baidu offers ERNIE foundation large language models (LLMs). The latest iteration, ERNIE X1 Turbo, matches the performance of Chinese rival DeepSeek R1, as well as OpenAI’s o1.

除了这些全栈层之外，百度还提供Ernie Foundation大型语言模型（LLMS）。最新的迭代Ernie X1 Turbo与中国竞争对手Deepseek R1的性能以及Openai的O1相匹配。

According to various news reports, ERNIE 4.5 Turbo is 2x faster than its predecessor with just 20% of the cost. In turn, this model is just 0.2% – 1% of ChatGPT 4.5’s cost, having cut prices by 80% for the Turbo model in April. Suffice to say, this creates an enormous cost-efficiency advantage for China’s businesses.

根据各种新闻报道，Ernie 4.5 Turbo的速度比其前身快2倍，而费用的20％。反过来，该型号仅为Chatgpt 4.5成本的0.2％ - 1％，4月的Turbo车型的价格降低了80％。可以说，这为中国的业务创造了巨大的成本效益优势。

As a multi-modal LLM, ERNIE is suited for a wide range of uses: image and audio analysis, document summary, image generation, textual and mathematical reasoning. Following China’s price-slashing strategy in other endeavors, from EVs to Temu’s cheap product deliveries, it is clear that Baidu aims to become the go-to place for AI app deployment.Join Our Telegram Group

作为多模式LLM，Ernie适合各种用途：图像和音频分析，文档摘要，图像生成，文本和数学推理。遵循中国在其他努力中的价格淘汰策略，从电动汽车到Temu的廉价产品交付，很明显，百度的目标是成为AI应用程序部署的首选地点。加入我们的电报小组