News this week: Last week, leading
Chinese-language Internet search provider, Baidu,
announced its first quarter results for 2014.
Revenues were US$1.5 billion, a
jump of 59% over the same
period of last year. Net income attributable to the
company was US$408 million, up 24% over the first quarter of 2013. Diluted earnings per share
in the period were RMB 7.21
(US$1.16).
Most of Baidu’s revenues were generated from its online
marketing services. The number
of active online marketing customers increased 8.8% to about 446,000
in the first quarter of 2013, while revenue per customer grew to US$3,362 – a jump of 44% over
the corresponding period of last year.
The NASDAQ-listed company forecasts revenues in the second
quarter of the year to be between US$1.90
billion and US$1.95 billion,
representing a year-on-year increase of 56%
to 60%. Revenues in the second
quarter of 2013 were US$1.23 billion.
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