Technology
Baidu Announces Fourth Quarter and Fiscal Year 2024 Results
Published
1 year agoon
By
BEIJING, Feb. 18, 2025 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with a strong Internet foundation, today announced its unaudited financial results for the quarter and fiscal year ended December 31, 2024.
“2024 marked a pivotal year in our ongoing transformation from an internet-centric to an AI-first business. AI Cloud gained momentum, fueled by broad market recognition of our full stack AI capabilities. In Mobile Ecosystem, we have been steadfast in advancing the AI transformation, making search more AI-native to deliver a better user experience. Apollo Go, after years of investment, validated its business model, paving the way for global expansion and scalable, asset-light strategies,” said Robin Li, Co-founder and CEO of Baidu. “With our strategic foresight increasingly validated, we expect our AI investments to deliver more significant results in 2025.”
“Our AI Cloud business demonstrated robust momentum with fourth-quarter revenue growth accelerating to 26% year over year, offsetting the softness in online marketing business,” said Junjie He, Interim CFO of Baidu. “While navigating near-term pressures, we are confident that our strategic AI investments will drive meaningful progress and foster long-term success.”
Fourth Quarter and Fiscal Year 2024 Financial Highlights[1]
Baidu, Inc.
(In millions except per
Q4
Q3
Q4
FY
FY
ADS, unaudited)
2023
2024
2024
YOY
2023
2024
YOY
RMB
RMB
RMB
US$
RMB
RMB
US$
Total revenues
34,951
33,557
34,124
4,675
(2 %)
134,598
133,125
18,238
(1 %)
Operating income
5,392
5,925
3,917
537
(27 %)
21,856
21,270
2,914
(3 %)
Operating income
(non-GAAP) [2]
7,075
7,014
5,047
691
(29 %)
28,433
26,234
3,594
(8 %)
Net income to Baidu
2,599
7,632
5,192
711
100 %
20,315
23,760
3,255
17 %
Net income to Baidu
(non-GAAP) [2]
7,755
5,886
6,709
919
(13 %)
28,747
27,002
3,699
(6 %)
Diluted earnings per
ADS
6.77
21.60
14.26
1.95
111 %
55.08
65.91
9.03
20 %
Diluted earnings per
ADS (non-GAAP) [2]
21.86
16.60
19.18
2.63
(12 %)
80.85
76.85
10.53
(5 %)
Adjusted EBITDA [2]
9,057
8,733
6,954
953
(23 %)
35,823
33,078
4,532
(8 %)
Adjusted EBITDA
margin
26 %
26 %
20 %
20 %
27 %
25 %
25 %
Baidu Core
Q4
Q3
Q4
FY
FY
(In millions, unaudited)
2023
2024
2024
YOY
2023
2024
YOY
RMB
RMB
RMB
US$
RMB
RMB
US$
Total revenues
27,488
26,524
27,698
3,795
1 %
103,465
104,712
14,345
1 %
Operating income
4,668
5,694
3,638
498
(22 %)
18,825
19,478
2,668
3 %
Operating income
(non-GAAP) [2]
6,197
6,652
4,647
637
(25 %)
24,748
23,890
3,273
(3 %)
Net income to Baidu
Core
2,440
7,536
5,283
724
117 %
19,401
23,431
3,210
21 %
Net income to Baidu
Core (non-GAAP) [2]
7,500
5,676
6,741
924
(10 %)
27,418
26,335
3,608
(4 %)
Adjusted EBITDA [2]
8,118
8,336
6,516
893
(20 %)
31,863
30,587
4,190
(4 %)
Adjusted EBITDA
margin
30 %
31 %
24 %
24 %
31 %
29 %
29 %
[1] Unless otherwise noted, RMB to USD was converted at an exchange rate of RMB 7.2993 as of December 31, 2024,
as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. Translations are
provided solely for the convenience of the reader.
[2] Non-GAAP measures are defined in the Non-GAAP Financial Measures section (see also “Reconciliations of
Non-GAAP Financial Measures to the Nearest Comparable GAAP Measures” for more details).
Operational Highlights
Corporate
Baidu returned US$356 million to shareholders since Q4 2024, bringing the cumulative repurchase to over US$1 billion since 2024 and to US$1.7 billion under the 2023 share repurchase program.Baidu earned a position in the global edition of the S&P Global Sustainability Yearbook for the first time, demonstrating its further advancement in ESG performance. The selection stems from a comprehensive evaluation of 7,690 companies globally as part of the S&P Global 2024 Corporate Sustainability Assessment, underscoring Baidu’s sustainability practices.Forbes China placed Baidu on its 2024 China ESG 50 list.
AI Cloud
ERNIE handled approximately 1.65 billion API calls daily in December 2024, with external API calls increasing by 178% quarter over quarter, highlighting particularly strong momentum.The MAU of Baidu Wenku’s AI-enabled features reached 94 million in December 2024, with a 216% year over year and an 83% quarter over quarter increase.
Intelligent Driving
Apollo Go, Baidu’s autonomous ride-hailing service, provided over 1.1 million rides in the fourth quarter of 2024, up 36% year over year.In January 2025, accumulated rides provided to the public by Apollo Go surpassed 9 million.In November 2024, Apollo Go was granted permits to conduct autonomous driving testing on public roads in Hong Kong, making Apollo Go the first and only of its kind to receive robotaxi testing authorization in the region. This marks Apollo Go’s first entry into a right-hand drive, left-hand traffic market.Apollo Go has commenced 100% fully driverless operations across China since February 2025.
Mobile Ecosystem
In December 2024, Baidu App’s MAUs reached 679 million, up 2% year over year.Managed Page accounted for 48% of Baidu Core’s online marketing revenue in the fourth quarter of 2024.
Fourth Quarter 2024 Financial Results
Total revenues were RMB34.1 billion ($4.68 billion), decreasing 2% year over year.
Revenue from Baidu Core was RMB27.7 billion ($3.80 billion), increasing 1% year over year; online marketing revenue was RMB17.9 billion ($2.46 billion), decreasing 7% year over year, and non-online marketing revenue was RMB9.8 billion ($1.34 billion), up 18% year over year, mainly driven by AI Cloud business.Revenue from iQIYI was RMB6.6 billion ($906 million), decreasing 14% year over year.
Cost of revenues was RMB18.0 billion ($2.47 billion), increasing 3% year over year, primarily due to an increase in traffic acquisition costs, costs related to AI Cloud business and a one-time write-down of inventories, partially offset by a decrease in personnel-related expenses and content costs.
Selling, general and administrative expenses were RMB6.7 billion ($915 million), increasing 14% year over year, primarily due to an increase in expected credit losses, and channel spending and promotional marketing expenses, partially offset by a decrease in personnel-related expenses. RMB561 million of the increase in expected credit losses was pertaining to a one-time accrual.
Research and development expenses were RMB5.5 billion ($756 million), decreasing 12% year over year, primarily due to a decrease in personnel-related expenses, partially offset by an increase in server depreciation expenses and server custody fees which support Gen-AI research and development inputs.
Operating income was RMB3.9 billion ($537 million) in Q4, compared to RMB5.4 billion for the same period last year. Baidu Core operating income was RMB3.6 billion ($498 million), and Baidu Core operating margin was 13% in Q4, compared to RMB4.7 billion and 17% for the same period last year. The decrease was due to one-time losses of RMB1.0 billion including accrual of expected credit losses, write-down of inventories and others. Non-GAAP operating income was RMB5.0 billion ($691 million). Non-GAAP Baidu Core operating income was RMB4.6 billion ($637 million), and non-GAAP Baidu Core operating margin was 17%.
Total other income, net was RMB2.7 billion ($364 million), compared to total other loss, net of RMB2.5 billion for the same period last year, mainly due to an increase in net foreign exchange gain arising from exchange rate fluctuation between Renminbi and U.S. dollar, and a decrease in pickup of losses from an equity method investment, which modified certain terms of its preferred shares and resulted in significant loss pickup in 2023.
Income tax expense was RMB1.6 billion ($222 million), compared to income tax benefit of RMB96 million for the same period last year.
Net income attributable to Baidu was RMB5.2 billion ($711 million), and diluted earnings per ADS was RMB14.26 ($1.95). Net income attributable to Baidu Core was RMB5.3 billion ($724 million), and net margin for Baidu Core was 19%. Non-GAAP net income attributable to Baidu was RMB6.7 billion ($919 million). Non-GAAP diluted earnings per ADS was RMB19.18 ($2.63). Non-GAAP net income attributable to Baidu Core was RMB6.7 billion ($924 million), and non-GAAP net margin for Baidu Core was 24%.
Adjusted EBITDA was RMB7.0 billion ($953 million) and adjusted EBITDA margin was 20%. Adjusted EBITDA for Baidu Core was RMB6.5 billion ($893 million) and adjusted EBITDA margin for Baidu Core was 24%.
As of December 31, 2024, cash, cash equivalents, restricted cash and short-term investments were RMB139.1 billion ($19.06 billion), and cash, cash equivalents, restricted cash and short-term investments excluding iQIYI were RMB134.7 billion ($18.45 billion). Free cash flow was RMB23 million ($3 million), and free cash flow excluding iQIYI was negative RMB476 million (negative $65 million).
Fiscal Year 2024 Results
Total revenues were RMB133.1 billion ($18.24 billion), decreasing 1% year over year.
Revenue from Baidu Core was RMB104.7 billion ($14.35 billion), increasing 1% year over year; online marketing revenue was RMB73.0 billion ($10.00 billion), decreasing 3% year over year, and non-online marketing revenue was RMB31.7 billion ($4.35 billion), up 12% year over year, mainly driven by AI Cloud business.Revenue from iQIYI was RMB29.2 billion ($4.00 billion), decreasing 8% year over year.
Cost of revenues was RMB66.1 billion ($9.06 billion), increasing 2% year over year, primarily due to an increase in traffic acquisition costs, bandwidth costs and server custody fees, partially offset by a decrease in personnel-related expenses and content costs.
Selling, general and administrative expenses were RMB23.6 billion ($3.24 billion), which remained flat compared to the same period last year.
Research and development expenses were RMB22.1 billion ($3.03 billion), decreasing 9% year over year, primarily due to a decrease in personnel-related expenses.
Operating income was RMB21.3 billion ($2.91 billion). Baidu Core operating income was RMB19.5 billion ($2.67 billion), and Baidu Core operating margin was 19%. Non-GAAP operating income was RMB26.2 billion ($3.59 billion). Non-GAAP Baidu Core operating income was RMB23.9 billion ($3.27 billion), and non-GAAP Baidu Core operating margin was 23%.
Total other income, net was RMB7.4 billion ($1.01 billion), increasing 120% year over year, primarily due to a decrease in pickup of losses from an equity method investment, which modified certain terms of its preferred shares and resulted in significant loss pickup in 2023.
Income tax expense was RMB4.4 billion ($609 million), compared to RMB3.6 billion in the same period last year.
Net income attributable to Baidu was RMB23.8 billion ($3.26 billion), and diluted earnings per ADS was RMB65.91 ($9.03). Net income attributable to Baidu Core was RMB23.4 billion ($3.21 billion), and net margin for Baidu Core was 22%. Non-GAAP net income attributable to Baidu was RMB27.0 billion ($3.70 billion). Non-GAAP diluted earnings per ADS was RMB76.85 ($10.53). Non-GAAP net income attributable to Baidu Core was RMB26.3 billion ($3.61 billion), and non-GAAP net margin for Baidu Core was 25%.
Adjusted EBITDA was RMB33.1 billion ($4.53 billion) and adjusted EBITDA margin was 25%. Adjusted EBITDA for Baidu Core was RMB30.6 billion ($4.19 billion) and adjusted EBITDA margin for Baidu Core was 29%.
Free cash flow was RMB13.1 billion ($1.80 billion), and free cash flow excluding iQIYI was RMB11.1 billion ($1.52 billion).
Conference Call Information
Baidu’s management will hold an earnings conference call at 7.30 AM on February 18, 2025, U.S. Eastern Time (8.30 PM on February 18, 2025, Beijing Time).
Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Baidu Inc. Q4 2024 Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite.
For pre-registration, please click:
https://s1.c-conf.com/diamondpass/10044727-f3pyuq.html
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.
Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com.
About Baidu
Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on NASDAQ under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, Baidu’s and other parties’ strategic and operational plans, contain forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
To supplement Baidu’s consolidated financial results presented in accordance with GAAP, Baidu uses the following non-GAAP financial measures: non-GAAP operating income, non-GAAP operating margin, non-GAAP net income (loss) attributable to Baidu, non-GAAP net margin, non-GAAP diluted earnings per ADS, adjusted EBITDA, adjusted EBITDA margin and free cash flow. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.
Baidu believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain items that may not be indicative of its recurring core business operating results, such as operating performance excluding non-cash charges or non-operating in nature. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to Baidu’s historical performance and liquidity. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company’s results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data.
Non-GAAP operating income represents operating income excluding share-based compensation expenses, and amortization and impairment of intangible assets resulting from business combinations.
Non-GAAP net income attributable to Baidu represents net income attributable to Baidu excluding share-based compensation expenses, amortization and impairment of intangible assets resulting from business combinations, disposal gain or loss, impairment of long-term investments, and fair value gain or loss of long-term investments, adjusted for related income tax effects. Baidu’s share of equity method investments for these non-GAAP reconciling items, amortization and impairment of intangible assets not on the investees’ books, accretion of their redeemable non-controlling interests, and the gain or loss associated with the issuance of shares by the investees at a price higher or lower than the carrying value per share, adjusted for related income tax effects, are also excluded.
Non-GAAP diluted earnings per ADS represents diluted earnings per ADS calculated by dividing non-GAAP net income attributable to Baidu, by the weighted average number of ordinary shares expressed in ADS. Adjusted EBITDA represents operating income excluding depreciation, amortization and impairment of intangible assets resulting from business combinations, and share-based compensation expenses.
For more information on non-GAAP financial measures, please see the tables captioned “Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measure.”
Baidu, Inc.
Condensed Consolidated Statements of Income
(In millions except for per share (or ADS) information, unaudited)
Three Months Ended
Twelve Months Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
US$(2)
RMB
RMB
US$(2)
Revenues:
Online marketing services
20,804
20,108
19,340
2,650
81,203
78,563
10,763
Others
14,147
13,449
14,784
2,025
53,395
54,562
7,475
Total revenues
34,951
33,557
34,124
4,675
134,598
133,125
18,238
Costs and expenses:
Cost of revenues(1)
17,418
16,399
18,014
2,467
65,031
66,102
9,056
Selling, general and administrative(1)
5,854
5,867
6,678
915
23,519
23,620
3,236
Research and development(1)
6,287
5,366
5,515
756
24,192
22,133
3,032
Total costs and expenses
29,559
27,632
30,207
4,138
112,742
111,855
15,324
Operating income
5,392
5,925
3,917
537
21,856
21,270
2,914
Other (loss) income:
Interest income
2,064
1,877
2,001
274
8,009
7,962
1,091
Interest expense
(774)
(673)
(643)
(88)
(3,248)
(2,824)
(387)
Foreign exchange (loss) gain, net
(449)
(1,096)
1,678
230
595
1,076
147
Share of (losses) earnings from equity method investments
(2,970)
32
(399)
(55)
(3,799)
(691)
(95)
Others, net
(398)
2,535
23
3
1,785
1,829
251
Total other (loss) income, net
(2,527)
2,675
2,660
364
3,342
7,352
1,007
Income before income taxes
2,865
8,600
6,577
901
25,198
28,622
3,921
Income tax (benefit) expense
(96)
814
1,619
222
3,649
4,447
609
Net income
2,961
7,786
4,958
679
21,549
24,175
3,312
Net income (loss) attributable to noncontrolling interests
362
154
(234)
(32)
1,234
415
57
Net income attributable to Baidu
2,599
7,632
5,192
711
20,315
23,760
3,255
Earnings per ADS (1 ADS representing 8 Class A ordinary shares):
-Basic
6.85
21.93
14.41
1.97
55.83
66.40
9.10
-Diluted
6.77
21.60
14.26
1.95
55.08
65.91
9.03
Earnings per share for Class A and Class B ordinary shares:
-Basic
0.86
2.74
1.80
0.25
6.98
8.31
1.14
-Diluted
0.85
2.70
1.78
0.24
6.89
8.24
1.13
Weighted average number of Class A and Class B ordinary shares outstanding (in millions):
-Basic
2,812
2,785
2,775
2,775
2,807
2,790
2,790
-Diluted
2,830
2,789
2,783
2,783
2,837
2,798
2,798
(1) Includes share-based compensation expenses as follows:
Cost of revenues
159
104
103
14
590
461
63
Selling, general and administrative
411
328
297
41
1,678
1,427
195
Research and development
1,068
612
685
93
4,077
2,896
397
Total share-based compensation expenses
1,638
1,044
1,085
148
6,345
4,784
655
(2) All translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the exchange rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.
Baidu, Inc.
Condensed Consolidated Balance Sheets
(In millions, unaudited)
December 31,
December 31,
December 31,
2023
2024
2024
RMB
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
25,231
24,832
3,402
Restricted cash
11,503
11,697
1,602
Short-term investments, net
168,670
102,608
14,057
Accounts receivable, net
10,848
10,104
1,384
Amounts due from related parties
1,424
790
108
Other current assets, net
12,579
18,818
2,580
Total current assets
230,255
168,849
23,133
Non-current assets:
Fixed assets, net
27,960
30,102
4,124
Licensed copyrights, net
6,967
6,930
949
Produced content, net
13,377
14,695
2,013
Intangible assets, net
881
772
106
Goodwill
22,586
22,586
3,094
Long-term investments, net
47,957
41,721
5,716
Long-term time deposits and held-to-maturity investments
24,666
98,535
13,499
Amounts due from related parties
195
137
19
Deferred tax assets, net
2,100
2,193
300
Operating lease right-of-use assets
10,851
10,898
1,493
Prepayments and receivables related to the proposed acquisition of YY Live, net
13,198
13,547
1,856
Other non-current assets
5,766
16,815
2,304
Total non-current assets
176,504
258,931
35,473
Total assets
406,759
427,780
58,606
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Current liabilities:
Short-term loans
10,257
10,669
1,462
Accounts payable and accrued liabilities
37,717
41,443
5,677
Customer deposits and deferred revenue
14,627
14,624
2,003
Deferred income
306
684
94
Long-term loans, current portion
2
168
23
Convertible senior notes, current portion
2,802
242
33
Notes payable, current portion
6,029
8,026
1,100
Amounts due to related parties
1,603
1,794
246
Operating lease liabilities
3,108
3,303
453
Total current liabilities
76,451
80,953
11,091
Non-current liabilities:
Deferred income
200
231
32
Deferred revenue
481
585
80
Amounts due to related parties
77
56
8
Long-term loans
14,223
15,596
2,137
Notes payable
34,990
27,996
3,835
Convertible senior notes
8,144
8,351
1,144
Deferred tax liabilities
2,725
3,870
530
Operating lease liabilities
5,040
4,973
681
Other non-current liabilities
1,820
1,557
213
Total non-current liabilities
67,700
63,215
8,660
Total liabilities
144,151
144,168
19,751
Redeemable noncontrolling interests
9,465
9,870
1,352
Equity
Total Baidu shareholders’ equity
243,626
263,620
36,116
Noncontrolling interests
9,517
10,122
1,387
Total equity
253,143
273,742
37,503
Total liabilities, redeemable noncontrolling interests, and equity
406,759
427,780
58,606
Baidu, Inc.
Selected Information
(In millions, unaudited)
Three months ended
December 31, 2023 (RMB)
Three months ended
September 30, 2024 (RMB)
Three months ended
December 31, 2024 (RMB)
Three months ended
December 31, 2024 (US$)
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Total revenues
27,488
7,707
(244)
34,951
26,524
7,246
(213)
33,557
27,698
6,613
(187)
34,124
3,795
906
(26)
4,675
YOY
1 %
(14 %)
(2 %)
QOQ
4 %
(9 %)
2 %
Costs and expenses:
Cost of revenues (1)
12,050
5,533
(165)
17,418
10,923
5,650
(174)
16,399
13,180
4,995
(161)
18,014
1,806
684
(23)
2,467
Selling, general and administrative (1)
4,936
948
(30)
5,854
4,990
908
(31)
5,867
5,816
882
(20)
6,678
797
121
(3)
915
Research and development (1)
5,834
453
–
6,287
4,917
449
–
5,366
5,064
451
–
5,515
694
62
–
756
Total costs and expenses
22,820
6,934
(195)
29,559
20,830
7,007
(205)
27,632
24,060
6,328
(181)
30,207
3,297
867
(26)
4,138
YOY
Cost of revenues
9 %
(10 %)
3 %
Selling, general and administrative
18 %
(7 %)
14 %
Research and development
(13 %)
(0 %)
(12 %)
Costs and expenses
5 %
(9 %)
2 %
Operating income (loss)
4,668
773
(49)
5,392
5,694
239
(8)
5,925
3,638
285
(6)
3,917
498
39
–
537
YOY
(22 %)
(63 %)
(27 %)
QOQ
(36 %)
19 %
(34 %)
Operating margin
17 %
10 %
15 %
21 %
3 %
18 %
13 %
4 %
11 %
Add: total other (loss) income, net
(2,267)
(260)
–
(2,527)
2,667
8
–
2,675
3,125
(465)
–
2,660
428
(64)
–
364
Less: income tax (benefit) expense
(134)
38
–
(96)
803
11
–
814
1,612
7
–
1,619
221
1
–
222
Less: net income (loss) attributable to NCI
95
9
258(3)
362
22
7
125(3)
154
(132)
2
(104)(3)
(234)
(19)
–
(13)(3)
(32)
Net income (loss) attributable to Baidu
2,440
466
(307)
2,599
7,536
229
(133)
7,632
5,283
(189)
98
5,192
724
(26)
13
711
YOY
117 %
–
100 %
QOQ
(30 %)
–
(32 %)
Net margin
9 %
6 %
7 %
28 %
3 %
23 %
19 %
(3 %)
15 %
Non-GAAP financial measures:
Operating income (non-GAAP)
6,197
927
7,075
6,652
370
7,014
4,647
406
5,047
637
54
691
YOY
(25 %)
(56 %)
(29 %)
QOQ
(30 %)
10 %
(28 %)
Operating margin (non-GAAP)
23 %
12 %
20 %
25 %
5 %
21 %
17 %
6 %
15 %
Net income (loss) attributable to Baidu (non-GAAP)
7,500
681
7,755
5,676
480
5,886
6,741
(59)
6,709
924
(9)
919
YOY
(10 %)
–
(13 %)
QOQ
19 %
–
14 %
Net margin (non-GAAP)
27 %
9 %
22 %
21 %
7 %
18 %
24 %
(1 %)
20 %
Adjusted EBITDA
8,118
988
9,057
8,336
405
8,733
6,516
444
6,954
893
60
953
YOY
(20 %)
(55 %)
(23 %)
QOQ
(22 %)
10 %
(20 %)
Adjusted EBITDA margin
30 %
13 %
26 %
31 %
6 %
26 %
24 %
7 %
20 %
(1) Includes share-based compensation as follows:
Cost of revenues
125
34
159
73
31
104
74
29
103
10
4
14
Selling, general and administrative
340
71
411
268
60
328
240
57
297
33
8
41
Research and development
1,020
48
1,068
574
38
612
652
33
685
90
3
93
Total share-based compensation
1,485
153
1,638
915
129
1,044
966
119
1,085
133
15
148
(2) Relates to intersegment eliminations and adjustments
(3) Relates to the net income attributable to iQIYI noncontrolling interests
Baidu, Inc.
Selected Information
(In millions except for per ADS information, unaudited)
Twelve months ended
December 31, 2023 (RMB)
Twelve months ended
December 31, 2024 (RMB)
Twelve months ended
December 31, 2024 (US$)
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Baidu
Core
iQIYI
Elim &
adj(2)
Baidu,
Inc.
Total revenues
103,465
31,873
(740)
134,598
104,712
29,225
(812)
133,125
14,345
4,004
(111)
18,238
YOY
1 %
(8 %)
(1 %)
Costs and expenses:
Cost of revenues (1)
42,592
23,103
(664)
65,031
44,830
21,954
(682)
66,102
6,142
3,008
(94)
9,056
Selling, general and administrative (1)
19,623
4,014
(118)
23,519
20,049
3,682
(111)
23,620
2,747
504
(15)
3,236
Research and development (1)
22,425
1,767
–
24,192
20,355
1,778
–
22,133
2,788
244
–
3,032
Total costs and expenses
84,640
28,884
(782)
112,742
85,234
27,414
(793)
111,855
11,677
3,756
(109)
15,324
YOY
Cost of revenues
5 %
(5 %)
2 %
Selling, general and administrative
2 %
(8 %)
0 %
Research and development
(9 %)
1 %
(9 %)
Cost and expenses
1 %
(5 %)
(1 %)
Operating income (loss)
18,825
2,989
42
21,856
19,478
1,811
(19)
21,270
2,668
248
(2)
2,914
YOY
3 %
(39 %)
(3 %)
Operating margin
18 %
9 %
16 %
19 %
6 %
16 %
Add: total other income (loss), net
4,298
(956)
–
3,342
8,311
(959)
–
7,352
1,139
(132)
–
1,007
Less: income tax expense
3,568
81
–
3,649
4,386
61
–
4,447
601
8
–
609
Less: net income (loss) attributable to NCI
154
27
1,053(3)
1,234
(28)
27
416(3)
415
(4)
4
57(3)
57
Net income (loss) attributable to Baidu
19,401
1,925
(1,011)
20,315
23,431
764
(435)
23,760
3,210
104
(59)
3,255
YOY
21 %
(60 %)
17 %
Net margin
19 %
6 %
15 %
22 %
3 %
18 %
Non-GAAP financial measures:
Operating income (non-GAAP)
24,748
3,643
28,433
23,890
2,363
26,234
3,273
323
3,594
YOY
(3 %)
(35 %)
(8 %)
Operating margin (non-GAAP)
24 %
11 %
21 %
23 %
8 %
20 %
Net income attributable to Baidu (non-GAAP)
27,418
2,838
28,747
26,335
1,512
27,002
3,608
206
3,699
YOY
(4 %)
(47 %)
(6 %)
Net margin (non-GAAP)
26 %
9 %
21 %
25 %
5 %
20 %
Adjusted EBITDA
31,863
3,918
35,823
30,587
2,510
33,078
4,190
344
4,532
YOY
(4 %)
(36 %)
(8 %)
Adjusted EBITDA margin
31 %
12 %
27 %
29 %
9 %
25 %
(1) Includes share-based compensation as follows:
Cost of revenues
457
133
590
340
121
461
47
16
63
Selling, general and administrative
1,363
315
1,678
1,153
274
1,427
158
37
195
Research and development
3,888
189
4,077
2,746
150
2,896
376
21
397
Total share-based compensation
5,708
637
6,345
4,239
545
4,784
581
74
655
(2) Relates to intersegment eliminations and adjustments
(3) Relates to the net loss attributable to iQIYI noncontrolling interests
Baidu, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions,unaudited)
Three months ended
Three months ended
Three months ended
Three months ended
December 31, 2023 (RMB)
September 30, 2024 (RMB)
December 31, 2024 (RMB)
December 31, 2024 (US$)
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Net cash provided by operating activities
9,985
633
10,618
4,036
243
4,279
1,836
520
2,356
252
71
323
Net cash used in investing activities
(11,805)
(1,431)
(13,236)
(12,300)
(1,663)
(13,963)
(4,741)
(896)
(5,637)
(649)
(123)
(772)
Net cash (used in) provided by financing activities
(7,586)
(22)
(7,608)
(2,787)
(2,612)
(5,399)
(1,784)
114
(1,670)
(245)
16
(229)
Effect of exchange rate changes on cash, cash equivalents and restricted
cash
(364)
(31)
(395)
(721)
(84)
(805)
582
61
643
80
8
88
Net decrease in cash, cash equivalents and restricted cash
(9,770)
(851)
(10,621)
(11,772)
(4,116)
(15,888)
(4,107)
(201)
(4,308)
(562)
(28)
(590)
Cash, cash equivalents and restricted cash
At beginning of period
42,063
6,132
48,195
48,878
7,907
56,785
37,106
3,791
40,897
5,084
519
5,603
At end of period
32,293
5,281
37,574
37,106
3,791
40,897
32,999
3,590
36,589
4,522
491
5,013
Net cash provided by operating activities
9,985
633
10,618
4,036
243
4,279
1,836
520
2,356
252
71
323
Less: Capital expenditures
(3,641)
(19)
(3,660)
(1,637)
(8)
(1,645)
(2,312)
(21)
(2,333)
(317)
(3)
(320)
Free cash flow
6,344
614
6,958
2,399
235
2,634
(476)
499
23
(65)
68
3
Note: Baidu excl. iQIYI represents Baidu, Inc. minus iQIYI’s consolidated cash flows.
Baidu, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions,unaudited)
Twelve months ended
Twelve months ended
Twelve months ended
December 31, 2023 (RMB)
December 31, 2024 (RMB)
December 31, 2024 (US$)
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Baidu
excl.
iQIYI
iQIYI
Baidu,
Inc.
Net cash provided by operating activities
33,263
3,352
36,615
19,126
2,108
21,234
2,620
289
2,909
Net cash used in investing activities
(48,657)
(1,740)
(50,397)
(6,110)
(2,445)
(8,555)
(837)
(335)
(1,172)
Net cash used in financing activities
(9,876)
(4,286)
(14,162)
(12,391)
(1,368)
(13,759)
(1,698)
(187)
(1,885)
Effect of exchange rate changes on cash, cash equivalents and
restricted cash
189
93
282
81
14
95
11
2
13
Net (decrease) increase in cash, cash equivalents and restricted cash
(25,081)
(2,581)
(27,662)
706
(1,691)
(985)
96
(231)
(135)
Cash, cash equivalents and restricted cash
At beginning of period
57,374
7,862
65,236
32,293
5,281
37,574
4,426
722
5,148
At end of period
32,293
5,281
37,574
32,999
3,590
36,589
4,522
491
5,013
Net cash provided by operating activities
33,263
3,352
36,615
19,126
2,108
21,234
2,620
289
2,909
Less: Capital expenditures
(11,154)
(36)
(11,190)
(8,055)
(79)
(8,134)
(1,103)
(11)
(1,114)
Free cash flow
22,109
3,316
25,425
11,071
2,029
13,100
1,517
278
1,795
Note: Baidu excl. iQIYI represents Baidu, Inc. minus iQIYI’s consolidated cash flows.
Baidu, Inc.
Reconciliations of Non-GAAP Financial Measures to the Nearest Comparable GAAP Measures
(In millions except for per ADS information, unaudited)
Three months ended
Three months ended
Three months ended
Three months ended
December 31, 2023 (RMB)
September 30, 2024 (RMB)
December 31, 2024 (RMB)
December 31, 2024 (US$)
Baidu
Core
iQIYI
Baidu,
Inc.
Baidu
Core
iQIYI
Baidu,
Inc.
Baidu
Core
iQIYI
Baidu,
Inc.
Baidu
Core
iQIYI
Baidu,
Inc.
Operating income
4,668
773
5,392
5,694
239
5,925
3,638
285
3,917
498
39
537
Add: Share-based compensation expenses
1,485
153
1,638
915
129
1,044
966
119
1,085
133
15
148
Add: Amortization and impairment of intangible assets(1)
44
1
45
43
2
45
43
2
45
6
–
6
Operating income (non-GAAP)
6,197
927
7,075
6,652
370
7,014
4,647
406
5,047
637
54
691
Add: Depreciation of fixed assets
1,921
61
1,982
1,684
35
1,719
1,869
38
1,907
256
6
262
Adjusted EBITDA
8,118
988
9,057
8,336
405
8,733
6,516
444
6,954
893
60
953
Net income (loss) attributable to Baidu
2,440
466
2,599
7,536
229
7,632
5,283
(189)
5,192
724
(26)
711
Add: Share-based compensation expenses
1,484
153
1,553
914
129
972
965
119
1,019
131
16
140
Add: Amortization and impairment of intangible assets(1)
42
1
42
41
2
42
41
2
42
6
–
6
Add: Disposal (gain) loss
(37)
(1)
(38)
(1,501)
22
(1,491)
7
–
7
1
–
1
Add: Impairment of long-term investments
132
62
160
26
91
68
84
14
90
12
2
12
Add: Fair value loss (gain) of long-term investments
403
–
403
(1,361)
7
(1,358)
(288)
(5)
(290)
(39)
(1)
(40)
Add: Reconciling items on equity method investments(2)
3,172
–
3,172
8
–
8
679
–
679
93
–
93
Add: Tax effects on non-GAAP adjustments(3)
(136)
–
(136)
13
–
13
(30)
–
(30)
(4)
–
(4)
Net income (loss) attributable to Baidu (non-GAAP)
7,500
681
7,755
5,676
480
5,886
6,741
(59)
6,709
924
(9)
919
Diluted earnings per ADS
6.77
21.60
14.26
1.95
Add: Accretion of the redeemable noncontrolling interests
0.53
0.01
0.55
0.08
Add: Non-GAAP adjustments to earnings per ADS
14.56
(5.01)
4.37
0.60
Diluted earnings per ADS (non-GAAP)
21.86
16.60
19.18
2.63
(1) This represents amortization and impairment of intangible assets resulting from business combinations.
(2) This represents Baidu’s share of equity method investments for other non-GAAP reconciling items, amortization and impairment of intangible assets not on the investee’s books, accretion of their redeemable noncontrolling interests, and the gain or loss
associated with the issuance of shares by the investees at a price higher or lower than the carrying value per share.
(3) This represents tax impact of all non-GAAP adjustments.
Baidu, Inc.
Reconciliations of Non-GAAP Financial Measures to the Nearest Comparable GAAP Measures
(In millions except for per ADS information, unaudited)
Twelve months ended
Twelve months ended
Twelve months ended
December 31, 2023 (RMB)
December 31, 2024 (RMB)
December 31, 2024 (US$)
Baidu Core
iQIYI
Baidu, Inc.
Baidu Core
iQIYI
Baidu, Inc.
Baidu Core
iQIYI
Baidu, Inc.
Operating income
18,825
2,989
21,856
19,478
1,811
21,270
2,668
248
2,914
Add: Share-based compensation expenses
5,708
637
6,345
4,239
545
4,784
581
74
655
Add: Amortization and impairment of intangible assets(1)
215
17
232
173
7
180
24
1
25
Operating income (non-GAAP)
24,748
3,643
28,433
23,890
2,363
26,234
3,273
323
3,594
Add: Depreciation of fixed assets
7,115
275
7,390
6,697
147
6,844
917
21
938
Adjusted EBITDA
31,863
3,918
35,823
30,587
2,510
33,078
4,190
344
4,532
Net income attributable to Baidu
19,401
1,925
20,315
23,431
764
23,760
3,210
104
3,255
Add: Share-based compensation expenses
5,704
637
5,993
4,235
545
4,482
580
75
613
Add: Amortization and impairment of intangible assets(1)
195
17
204
165
7
168
23
1
23
Add: Disposal (gain) loss
(1,926)
(90)
(1,967)
(1,982)
22
(1,972)
(272)
3
(270)
Add: Impairment of long-term investments
479
336
631
172
193
260
24
26
36
Add: Fair value (gain) loss of long-term investments
(54)
4
(52)
(393)
(19)
(403)
(54)
(3)
(55)
Add: Reconciling items on equity method investments(2)
3,918
9
3,922
1,050
–
1,050
144
–
144
Add: Tax effects on non-GAAP adjustments(3)
(299)
–
(299)
(343)
–
(343)
(47)
–
(47)
Net income attributable to Baidu (non-GAAP)
27,418
2,838
28,747
26,335
1,512
27,002
3,608
206
3,699
Diluted earnings per ADS
55.08
65.91
9.03
Add: Accretion of the redeemable noncontrolling interests
2.02
1.68
0.23
Add: Non-GAAP adjustments to earnings per ADS
23.75
9.26
1.27
Diluted earnings per ADS (non-GAAP)
80.85
76.85
10.53
(1) This represents amortization and impairment of intangible assets resulting from business combinations.
(2) This represents Baidu’s share of equity method investments for other non-GAAP reconciling items, amortization and impairment of intangible assets not on the investee’s books,
accretion of their redeemable noncontrolling interests, and the gain or loss associated with the issuance of shares by the investees at a price higher or lower than the carrying value per share.
(3) This represents tax impact of all non-GAAP adjustments.
View original content:https://www.prnewswire.com/news-releases/baidu-announces-fourth-quarter-and-fiscal-year-2024-results-302378728.html
SOURCE Baidu, Inc.
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Solid Joins Snowflake and Industry Leaders to Advance Open Standards for AI-Ready Semantic Context
Published
57 minutes agoon
July 24, 2026By
The Open Semantic Interchange (OSI) creates a universal semantic framework that enables AI agents, analytics platforms, and data systems to share trusted business context across the modern data ecosystem.
NEW YORK, July 13, 2026 /PRNewswire/ — Solid today announced it is joining the Open Semantic Interchange (OSI), an open source initiative that creates a universal specification for all companies to standardize their fragmented data definitions with an open, vendor-neutral semantic model specification. OSI aims to enhance interoperability across various tools and platforms, offering enterprises a vendor-neutral specification that provides consistent metrics and definitions across dashboards, notebooks, and machine learning models.
OSI is an open source initiative led by Snowflake, the AI Data Cloud company, and ecosystem partners across multiple domains and industries including business intelligence (BI), data governance, data engineering, AI, financial services, and manufacturing. Its goal is to create a common, vendor-agnostic specification that defines semantic metadata in a standard, open format. By facilitating seamless semantic metadata exchange, the initiative will accelerate the adoption of AI and BI tools to streamline operations and reduce complexity. This in turn allows organizations to unify their data definitions, leading to more comprehensive and accurate data analysis and data product sharing to fuel AI innovation.
By joining the Open Semantic Interchange, Solid is committed to the creation of a universal standard that simplifies data operations and accelerates innovation for the broader ecosystem,” said Yoni Leitersdorf, CEO & Co-Founder, Solid. “Our participation ensures that semantic context can automatically move seamlessly across AI agents, data warehouses, BI tools, and analytics platforms – enabling organizations to build reliable AI systems on top of a shared, interoperable understanding of their business, without vendor lock-in.”
As a member of OSI, Solid is helping to build a transparent and community-driven standard for semantic model sharing, ensuring that business metrics and definitions remain consistent and interoperable.
“Unlocking the full potential of data and AI requires a common foundation, and the Open Semantic Interchange is the critical step in building that bedrock,” said Josh Klahr, Director of Analytics Product Management at Snowflake. “Our collaboration with partners like Solid establishes a unified, vendor-neutral standard for semantic data, ensuring clarity and consistency across the entire ecosystem. This initiative is essential for simplifying data operations, fostering innovation, and preparing organizations to build the next generation of AI applications.”
OSI is poised to revolutionize interoperability within the data and AI ecosystem by providing a transparent, community-driven standard. This collaborative effort simplifies data operations, unlocks new possibilities for innovation, and gives organizations the flexibility and efficiency they need to build a future-ready data infrastructure.
To learn more about the Open Semantic Interchange visit Snowflake’s blog here.
About Solid
Solid is the AI-native context layer for enterprise AI, automatically creating, evaluating, and maintaining the semantic context AI agents need to understand and act on business data reliably. Unlike legacy semantic layers built for dashboards and manual modeling, Solid continuously benchmarks accuracy, detects data changes, and keeps AI systems aligned as the business evolves. The result is faster deployment of trusted AI agents, workflows, and analytics across any data warehouse or AI platform.
To learn more about Solid, visit getsolid.ai
Media Contact: Blair Bader, blairb@getsolid.ai
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SOURCE Solid Data, Inc
Technology
Orbis Marks 30 Years of Advancing Eye Health in Vietnam Through Long-Term Partnership and Training
Published
57 minutes agoon
July 24, 2026By
Flying Eye Hospital project in Da Nang, supported by FedEx, advances locally led eye care and expands access across Central Vietnam and the Central Highlands.
DA NANG, Vietnam, July 24, 2026 /PRNewswire/ — Global eye care nonprofit Orbis International is marking three decades of collaboration with Vietnam’s eye health community, a long-term partnership that has helped build local expertise, strengthen institutions, expand access to care, and support Vietnam’s growing leadership in eye health across the Asia-Pacific region.
The arrival of the Orbis Flying Eye Hospital in Da Nang represents the next chapter in that partnership. At the invitation of Da Nang Eye Hospital and with approval from the People’s Committee of Da Nang City, and support from Da Nang Department of Health, and other relevant departments and local authorities, the project will serve as a platform for hands-on training, innovation, and knowledge exchange. Through clinical training and mentorship across key specialties, the project will help approximately 230 eye care professionals build skills that will benefit communities for years to come, while supporting access to specialized services for nearly 9 million people in Central Vietnam and the Central Highlands.
Cybersight, Orbis’s telemedicine and e-learning platform, is an integral part of every Flying Eye Hospital project—connecting in-person training with continuous learning before and after the aircraft is on site. Through Cybersight, participants can prepare in advance, consult with global experts, access ongoing education, and continue building skills long after the project concludes, extending the impact of the Flying Eye Hospital far beyond the aircraft itself.
“This project is not a standalone intervention; it is the latest chapter in a long-term partnership to advance Vietnam’s eye health system,” said Ngoc Pham, Orbis Vietnam Country Director. “The most important outcome is not what Orbis has done in Vietnam, but what Vietnamese institutions and eye care professionals now lead themselves. Our role at Orbis is increasingly to support, convene, innovate, and accelerate that local leadership so progress continues long after the Flying Eye Hospital departs.”
“Around the world, Orbis is focused on creating lasting change by investing in people, institutions, technology, and local leadership,” said Kathleen Sherwin, President and CEO of Orbis International. “The Flying Eye Hospital is one part of that larger model—bringing intensive, hands-on training together with tools like Cybersight, artificial intelligence (AI), and research so local teams can continue improving care long after a project ends. Vietnam shows what is possible when long-term partnership helps proven solutions take root and scale.”
Building on decades of progress, Vietnam is emerging as a regional leader in eye health, with particular strengths in pediatric care, diabetic retinopathy, retinopathy of prematurity, workforce development, and technology-enabled care. Its growing experience in AI-supported screening, implementation, research, and evidence generation can help inform eye health progress across the Asia-Pacific region.
FedEx, a long-time supporter of Orbis, and a title sponsor for this Flying Eye Hospital project in Vietnam, donated the MD-10 aircraft that serves as the Flying Eye Hospital and continues to provide essential logistical, financial, and operational support. Volunteer pilots from FedEx fly the aircraft to its destinations around the globe. FedEx is represented on the Orbis International Board of Directors.
“At FedEx, we believe that connecting people goes beyond delivering packages – it is about creating opportunities and helping communities thrive,” said Ee-Hui Tan, managing director of FedEx Vietnam and Cambodia. “We are proud to support the return of the Orbis Flying Eye Hospital to Vietnam. Together with Orbis, we are investing in the knowledge and skills of healthcare professionals, helping strengthen Vietnam’s eye care system so more patients can access quality care closer to home.”
Underscoring Orbis’s commitment to high-quality training and patient care, QUAD A, a nonprofit accreditation organization, works with Orbis to ensure that the Flying Eye Hospital meets rigorous standards that prioritize patient safety.
Over the past 30 years, Orbis has supported the training of more than 40,000 eye care professionals and helped expand access to care for millions of people across Vietnam. Today, Vietnamese institutions and professionals are increasingly leading innovation and delivering high-quality care independently, demonstrating the impact of sustained investment in local capacity, technology, and systems change.
Looking ahead, Orbis will continue working with partners across Vietnam to scale proven solutions through workforce development, technology, Cybersight, AI-supported screening, research, and stronger health systems—so that more people can receive quality eye care closer to home.
Orbis in Vietnam
Since beginning work in Vietnam in 1996, Orbis has worked alongside government partners, hospitals, and training institutions to expand access to quality eye care and build sustainable local capacity. Cumulative impact includes:
More than 40,000 eye care professionals trained.More than 5.2 million people reached with eye care services.More than 139,000 sight-saving surgeries supported.17 retinopathy of prematurity centers supported.12 vision centers strengthened to bring care closer to communities.National clinical guidelines supported across priority eye health areas.Cybersight and AI-supported screening deployed to expand training, consultation, and early detection.
This work has supported national clinical guidelines, stronger referral pathways, improved treatment outcomes, and new models of care in areas including retinopathy of prematurity, pediatric eye care, school eye health, cataract, diabetic retinopathy, and glaucoma.
As the partnership continues, Orbis and its partners are focused on scaling proven solutions through workforce development, technology, Cybersight, AI, research, and stronger health systems—so that everyone can access quality eye care closer to home.
About Orbis International
Orbis International works around the world to prevent blindness and restore sight for children and adults in places where eye care is out of reach—so vision problems don’t make it harder to learn, earn a living, or enjoy life. Around 1.1 billion people live with vision loss, but with the right care, 90% of it is completely avoidable. That is why Orbis trains doctors, nurses, and other eye care professionals to provide care in their own communities—and works to make sure people of all ages can access the eye exams, glasses, medicine, and surgeries they need to protect and restore their sight. Orbis began this work more than 40 years ago with the Flying Eye Hospital, a teaching hospital on a plane that brings expert training and care where they’re needed most. Today, we also work with local hospitals and clinics across Africa, Asia, and Latin America to make eye care available to more people, and we use and develop technology—like our award-winning Cybersight e-learning and telehealth platform, artificial intelligence screening, and virtual reality training—to help eye care teams treat patients more effectively. Orbis ranks in the top 3% of U.S. charities, having earned top marks for transparency and accountability from Charity Navigator, GuideStar, and the Better Business Bureau. To learn more, please visit orbis.org
About FedEx Corp.
FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.
Media Contacts
Orbis Vietnam
Nhung Nguyen
Communications Officer
Nhung.nguyen@orbis.org
+84 0904562983
Orbis International
Jenna Montgomery
Interim Lead, Global Communications and Marketing
Jenna.montgomery@orbis.org
FedEx
Heather Harshbarger
Communications Advisor
+1 901-690-9869
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SOURCE Orbis International
Technology
In HelloNation, Property Management Expert Karen Nolan Explains What Property Managers Do for Landlords
Published
57 minutes agoon
July 24, 2026By
The article outlines how property management services support landlords through tenant screening, maintenance, and lease enforcement.
MENIFEE, Calif., July 24, 2026 /PRNewswire/ — What do property managers actually do for landlords in Menifee, CA? HelloNation has published an article that provides clear answers and practical insight into the full scope of property management services.
The HelloNation article explains that a property manager handles far more than rent collection. Property management services begin with marketing vacancies and attracting qualified renters in Menifee, CA. The article explains how tenant screening plays a central role in protecting landlords by carefully evaluating applicants and reducing the risk of future issues.
According to the article, tenant screening helps ensure that each tenant meets financial and behavioral expectations. This step supports stable occupancy and reduces turnover, which is critical for any landlord managing property in Menifee, CA. Property Management Experts note that consistent tenant screening also helps maintain the long-term value of rental properties.
Once tenants are placed, the article outlines how a property manager becomes the main point of contact. Property management services include responding to tenant concerns, handling communication, and enforcing leases. By managing these responsibilities, the property manager allows the landlord to avoid direct disputes and maintain professional distance.
The article emphasizes that lease enforcement is essential to protecting both the property and the agreement. Property managers monitor compliance with lease terms and address violations when necessary. This structured approach helps landlords in Menifee, CA, maintain order and consistency across their rental properties.
Maintenance is another major focus of property management services. The article explains that property managers coordinate maintenance and oversee property repairs to keep homes safe and functional. While they may not perform repairs themselves, they manage vendors, schedule work, and respond to urgent issues quickly.
The article notes that timely maintenance and property repairs prevent small issues from becoming larger and more expensive problems. This proactive approach supports tenant satisfaction while preserving the property’s condition. Property Management Experts highlight that consistent maintenance planning is a key benefit for any landlord.
Beyond daily operations, the HelloNation article describes the administrative side of property management services. A property manager prepares leases, maintains records, and ensures compliance with local and state regulations in Menifee, CA. This includes staying informed about legal requirements that affect landlords and rental properties.
Financial oversight is also part of the role. The article explains that property managers handle rent collection, manage deposits, and provide regular financial reporting. These services give landlords a clear understanding of property performance without requiring constant involvement.
For landlords who own multiple properties or live outside Menifee, CA, the article highlights the value of professional property management services. A property manager helps streamline operations, coordinate maintenance, and ensure that lease enforcement and tenant screening are handled consistently. This reduces stress while improving efficiency.
The article concludes that understanding the full role of a property manager helps landlords make informed decisions about their level of involvement. With responsibilities that include tenant screening, maintenance, lease enforcement, and property repairs, property management services offer a comprehensive solution for effectively managing rental properties.
What Do Property Managers Actually Do for Landlords in Menifee features insights from Karen Nolan, Property Management Experts of Menifee, California, in HelloNation.
About HelloNation
HelloNation is a premier media platform that connects readers with trusted professionals and businesses across various industries. Through its innovative “edvertising” approach that blends educational content with storytelling, HelloNation delivers expert-driven, good-news articles that inform, inspire, and empower. Covering topics from home improvement and health to business strategy and lifestyle, HelloNation highlights leaders making a meaningful impact in their communities.
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SOURCE HelloNation
Solid Joins Snowflake and Industry Leaders to Advance Open Standards for AI-Ready Semantic Context
Orbis Marks 30 Years of Advancing Eye Health in Vietnam Through Long-Term Partnership and Training
In HelloNation, Property Management Expert Karen Nolan Explains What Property Managers Do for Landlords
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