Baidu.com (NASDAQ: BIDU) reported Q4 EPS of $0.93, ex-gain, $0.02 better than the analyst estimate of $0.91. Revenue for the quarter came in at $2.62 billion versus the consensus estimate of $2.67 billion.

Baidu currently expects to generate total revenues in an amount ranging from RMB16.480 billion ($2.374 billion) to RMB17.030 billion ($2.453 billion) for the first quarter of 2017 (*** consensus is $2.47 billion), representing a 4.2% to 7.6% year-over-year increase. This forecast reflects Baidu's current and preliminary view, which is subject to change.

"AI is an enormous opportunity that will revolutionize the Internet and traditional industries. Baidu, in particular, is well positioned to lead the AI wave in China, with our unique combination of technology, data and talent,\" said Robin Li, Chairman and CEO of Baidu. \"Our existing platform, including our search and newsfeed products, are enhanced by AI and enriched by our content and services ecosystem. We are thrilled by the opportunities that our existing platform has opened up and are excited to build the next generation of AI-enabled businesses."

"During the fourth quarter we largely completed our initiative to ensure that new and existing customers meet our stringent quality requirements," said Jennifer Li, CFO of Baidu. "We believe that the impact of these initiatives is mostly behind us and we look forward to 2017 as a time of recovery and growth. As always, we will stay focused on creating the best possible experience for users, while maintaining investment in key AI-enabled initiatives such as financial services, cloud and autonomous driving."

Fourth Quarter and Fiscal Year 2016 Operational Highlights

• Mobile search monthly active users (MAUs) were 665 million for the month of December 2016, an increase of 2% year-over-year
• Mobile maps MAUs were 341 million for the month of December 2016, an increase of 13% year-over-year
• Gross merchandise value[2] (GMV) for Transaction Services totaled RMB18.1 billion ($2.6 billion) for the fourth quarter of 2016, an increase of 23% year-over-year
• Baidu Wallet activated accounts reached 100 million at the end of December 2016, an increase of 88% year-over-year

For earnings history and earnings-related data on Baidu.com (BIDU) click here.