作者|蓝媒汇编辑部

2023年11月21日美股盘前，百度发布了2023年第三季度财报。

财报显示，公司第三季度营收344亿元，同比增长6%，核心收入为266亿元，同比增长5%。其中，归属于百度的净利润为73亿元，同比增长23%。

公司经营利润为人民币63亿元，核心经营利润为人民币55亿元，核心经营利润率21%。

非GAAP经营利润为76亿元人民币，非GAAP核心经营利润为 67亿元人民币，非GAAP核心经营利润率为25%。

成本方面，公司三季度收入成本为163亿元人民币，与去年同期基本持平；销售及管理费用人民币58亿元，同比增加11%，主要原因是渠道支出和市场推广支出增加；研发费用为人民币61亿元，同比增加6%，主要由于支持文心一言大模型开发的服务器折旧费用和服务器托管费用增加。

对于这份财报，备受关注的百度文心一言大模型做了如下解读：

综合市场消息后，文心一言判断是：大模型已成为百度可靠的增长点。

强大竞争力和持续盈利能力

前者，无可厚非——在国内大模型赛道内，百度文心一言在度过了发布初期的质疑后，已经在领先集团待了很久；持续盈利能力，考虑到当下人工智能研究成本并无明显下降迹象，这个结论的坐实仍需等待。

但从最近几份财报来看，大模型盈利的模式，百度已经基本跑通：自三月中旬首次发布至今，文心一言迭代到4.0版本，期间百度发了三次财报。数据上看，不论同比或是环比，公司季度总营收清一色飘红，市场对于文心大模型的认知度提升功不可没。

不只是文心一言这样说，李彦宏也在财报中强调，在生成式AI和基础模型的新兴机遇背景下，百度不断强化技术、改进产品，特别是推出了文心大模型4.0，这是百度最强大的基础模型。我们还利用文心大模型和文心一言的能力，重构了消费级、企业级产品及自身运营，在带来AI原生体验的同时，不断提升效率。同时，我们向云客户全面开放了文心大模型API，助力他们开发AI原生应用和解决方案。百度坚持以人工智能为核心的业务和产品战略，为文心大模型和文心一言生态在未来多年的收入保持和利润扩张奠定基础。”

由此可见，百度现在的业绩和预期，都在依靠文心一言支撑。

前段时间，李彦宏在公开场合表示，尽管国内已经有了200多个大模型，但所有这些大模型的调用量加起来，可能都没有单独一个文心大模型高。由大模型有衍生出的各项AI能力，帮助百度对旗下各产品线进行了AI原生重构，也对部分产品的业务关键指标（如付费率等）起到了关键作用。

百度的AI飞轮，已经在文心一言的带领下顺利运转。至于“更大的”“广阔的”盈利空间，文心一言也只是说了“未来”，需要交给时间。

Lanmeih/今日话题

你怎么看百度这份财报？

咱们评论区聊聊~

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