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● AI-first annual recurring revenue grew by more than 150%.
● Interest on client funds reached $1,354.8 million for the year, up 14%.
● Non-GAAP earnings per share were $3.30, above the high end of guidance.
● Security revenue grew 10% and Cloud Infrastructure Services revenue grew 39%.
● Adjusted EBITDA reached $1,613.8 million, an 84% margin.
● Baidu Core AI-powered Business revenue rose 25% to RMB12.5 billion.
● Recurring revenues for the year were $4,878 million, up 8%.
● Organic revenue growth was 3%, so acquisitions drove most of the increase.
● Backlog reached a record $8.1 billion, with $4.2 billion due within 12 months.
● Government sales rose 13.6% and Corporate sales rose 10.7%.
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