On November 18, 2025, Baidu reported a third-quarter loss of $1.58 billion, marking a sharp contrast to its profit in the same period last year[2][3]. Despite the loss, some sources noted that Baidu's profit and revenue figures were above certain expectations, but the headline result was a notable net loss[1]. Following the earnings release, Baidu's stock closed at $117.14 on November 18, 2025, up 2.66% from the previous session, suggesting investors may have anticipated worse results or focused on positive revenue surprises. The earnings announcement was the primary driver of the day's price movement.