Sunday, November 06, 2011

Baidu records impressive growth in Q3

News this week: NASDAQ-listed Chinese-language Internet search provider, Baidu, has announced its results for the quarter ended 30th September 2011. Revenues grew to US$655 million, an impressive increase of 85% compared with the same quarter in 2010. Net income attributable to the company was US$295 million, a jump of 80% over the same period last year. Diluted earnings per share in the quarter were RMB 5.38 (US$0.84).

As of 30th September 2011, Baidu had about 304,000 active online marketing customers, a 12% year-on-year growth up from 272,000. Revenue per online marketing customer this quarter jumped to US$2,148 – an increase of 65% compared with the third quarter of 2010.

The company’s management is forecasting revenues in the fourth quarter to be between US$691 million and US$711 million, an increase of 80% to 85% over the fourth quarter of 2010.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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