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.
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