百度新故事：AI增收、昆仑芯分拆、回购派息_老虎社区_美港股上老虎

百度新故事：AI增收、昆仑芯分拆、回购派息

定焦One02-26 23:18

2月26日，百度发布了2025年第四季度及全年财报，呈现出转型期特点，体现在传统业务收缩，AI新业务加速成长，用短期投入换取长期增长。具体来看，百度全年总营收为1291亿，同比微降3%，主要在于以搜索广告为代表的传统业务贡献减弱。但第四季度营收环比增长5%，且AI新业务占一般性业务收入（包含百度核心AI新业务、传统业务及其他）中占比已达43%，显示出其业务结构已经在调整。2025年，百度核心AI新...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

暂无评论

热议股票

7x24

全部

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/2614026369?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-02-26 23:18","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2614026369","market":"hk","top_or_hot":-1,"title":"百度新故事：AI增收、昆仑芯分拆、回购派息","media":"定焦One","content":"<div>\n<p>2月26日，百度发布了2025年第四季度及全年财报，呈现出转型期特点，体现在传统业务收缩，AI新业务加速成长，用短期投入换取长期增长。具体来看，百度全年总营收为1291亿，同比微降3%，主要在于以搜索广告为代表的传统业务贡献减弱。但第四季度营收环比增长5%，且AI新业务占一般性业务收入（包含百度核心AI新业务、传统业务及其他）中占比已达43%，显示出其业务结构已经在调整。2025年，百度核心AI新...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202602262328269542240e&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>百度新故事：AI增收、昆仑芯分拆、回购派息</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n百度新故事：AI增收、昆仑芯分拆、回购派息\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-26 23:18 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202602262328269542240e&s=b><strong>定焦One</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2月26日，百度发布了2025年第四季度及全年财报，呈现出转型期特点，体现在传统业务收缩，AI新业务加速成长，用短期投入换取长期增长。具体来看，百度全年总营收为1291亿，同比微降3%，主要在于以搜索广告为代表的传统业务贡献减弱。但第四季度营收环比增长5%，且AI新业务占一般性业务收入（包含百度核心AI新业务、传统业务及其他）中占比已达43%，显示出其业务结构已经在调整。2025年，百度核心AI新...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202602262328269542240e&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09888","symbol_name":"百度集团-SW","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202602262328269542240e&s=b","article_id":"2614026369","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202602262328269542240e&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2614026369","pubTimestamp":1772119080,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"2月26日，百度发布了2025年第四季度及全年财报，呈现出转型期特点，体现在传统业务收缩，AI新业务加速成长，用短期投入换取长期增长。此刻的百度，正在全力讲新故事，除了AI营收占比逐步提升之外，还在资本层面打出组合拳，一方面将昆仑芯分拆上市，另一方面宣布最高50亿美元的股份回购计划，并首次采用发放股息的政策。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"89888":"百度集团-SWR","09888":"百度集团-SW","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0823426480.USD":"法巴中国股票经典Dis","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0823426308.USD":"法巴中国股票基金","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0173614495.USD":"富达中国焦点A","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU0359201612.USD":"贝莱德中国基金A2","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","SG9999014674.SGD":"Nikko AM All China Equity A SGD","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU0819121731.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (USD) ACC","LU0051755006.USD":"摩根大通中国A (dist)","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","BK1588":"回港中概股","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","BK1615":"港股-互联网","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","BK1575":"同股不同权","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","BK1095":"互动媒体与服务","BIDU":"百度","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU0762541174.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM2\" (USD) INC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU0052750758.USD":"富兰克林中国基金A Acc","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","BK1587":"次新股","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU0630378692.HKD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (HKD) INC","LU0762542818.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM\" (HKD) INC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU0197773160.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AC\" ACC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","BK1609":"ChatGPT概念","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD"},"translate_title":"Baidu's new story: AI revenue increase, Kunlun Core spin-off, repurchase and dividend payment","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89888":0.6,"BIDU":1.95,"09888":1.95},"content_text":"2月26日，百度发布了2025年第四季度及全年财报，呈现出转型期特点，体现在传统业务收缩，AI新业务加速成长，用短期投入换取长期增长。具体来看，百度全年总营收为1291亿，同比微降3%，主要在于以搜索广告为代表的传统业务贡献减弱。但第四季度营收环比增长5%，且AI新业务占一般性业务收入（包含百度核心AI新业务、传统业务及其他）中占比已达43%，显示出其业务结构已经在调整。2025年，百度核心AI新业务收入达400亿，同比增长48%，占一般性业务收入的比例升至39%，而2025年Q4，AI新业务的113亿更是逼近传统业务的123亿。而智能云基础设施全年收入198亿，同比增长34%。再看利润方面，百度全年经营亏损58亿，主要在于一笔162亿的长期资产减值损失，若剔除该影响，全年经营利润为104亿，且第四季度单季已实现环比盈利增长。更能反映持续经营能力的经调整EBITDA为229亿，同比下降31%，对应的利润率也有所下滑，表明百度正从过去“轻资产、高毛利”的广告模式，转向“重投入、长周期”的AI驱动。此外，百度也披露了自动驾驶业务“萝卜快跑”的部分运营数据，第四季度全无人订单达340万单，全年总订单量同比增长超200%，累计订单量突破2000万单，业务已拓展至全球26个城市。此刻的百度，正在全力讲新故事，除了AI营收占比逐步提升之外，还在资本层面打出组合拳，一方面将昆仑芯分拆上市，另一方面宣布最高50亿美元的股份回购计划，并首次采用发放股息的政策。近一年来，百度股价已经大幅上涨48.78%，但这套组合拳能否长期有效，还有待观察。（策划：王璐，制图：李昱慧）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,buyback","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}