Friday, May 02, 2014

Baidu reports strong growth in Q1

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.

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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