Chinese web goliath Baidu Inc conveyed solid quarterly monetary outcomes on Thursday, announcing an all out income of 30.3 billion yuan ($4.7 billion) in the final quarter, up 5 percent year-on-year.
For the entire year, Baidu detailed an absolute income of 107.1 billion yuan, essentially level from the earlier year.
"Baidu finished 2020 on a strong note with our business profiting by improving macroeconomic climate and the digitalization of modern Internet," said Robin Li, fellow benefactor and CEO of Baidu.
"As we enter 2021, Baidu is very much situated as a main AI organization with solid Internet establishment to take advantage of the colossal market lucky breaks in cloud administrations, self-governing driving, savvy transportation, and other AI openings. We likewise desire to profit by our gigantic Internet reach with more non-showcasing administrations," Li said.
As indicated by him, the organization's emphasis on advancement through innovation is paying off with Baidu Core non-advertising income growing 52 percent year-over-year in the final quarter.
For the final quarter, income from Baidu Core expanded 6 percent year-over-year to 23.1 billion yuan. What's more, non-promoting income from Baidu Core arrived at 4.2 billion yuan, driven by cloud and different administrations.
"Regardless of an extraordinary year, our business got back to development and our benefits were strong in the final quarter," said Herman Yu, CFO of Baidu. "Through long periods of interest in examination, AI chip plan, designer local area, licenses and ability advancement, we are transforming AI into inventive use cases."
For example, Baidu AI cloud separating with AI arrangements grew 67 percent year-over-year in the final quarter, arriving at an annualized run pace of $2 billion.
At the 2020 Annual ABC Summit, Baidu reported its arrangement to start large scale manufacturing of Kunlun II AI chip in the not so distant future, for use in pursuit, modern AI and shrewd transportation.
During the final quarter, Baidu burned through 5.7 billion yuan on innovative work, up 19 percent year-on-year, essentially because of an increment in faculty related cost.
With regards to the portable biological system, the organization said its Baidu App month to month dynamic clients arrived at 544 million and every day signed in clients hit more than 70% as of the finish of 2020, up 18 rate focuses from a year prior.
Looking forward, the organization will keep on putting vigorously in innovation to advance its drawn out development, Yu added.