News this week: NASDAQ-listed Baidu,
the leading Chinese-language Internet search provider, released results for its fourth quarter and full fiscal year in 2012. Revenues in the
year were US$3.6 billion
– an impressive year-on-year growth of
54%. Net income in 2012 increased 58% reaching US$1.7 billion. Diluted earnings per share
in the period were RMB 29.83
(US$4.79).
Baidu attributed the growth to increases in both the number
of active online marketing customers and revenue per customer. In 2012, the company had about 596,000 active
online marketing customers, up 22% from 2011. Revenue
per customer was US$5,987 in 2012 – a
rise of 26% compared to the previous year.
Baidu’s management expects
revenues in the first quarter
of 2013 to be between US$945 million
and US$976 million, representing an increase of 38% to 43% over
the first quarter of 2012.
Robin Li, chairman
and CEO of Baidu, said, “We made encouraging progress in 2012, integrating
Baidu’s superior search and search-related products and functions, like maps
and image recognition, into our offering. In 2013 we will continue to enhance
functionality, introduce new products, and step up efforts to push our products
to users.”
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