News this week: Market leading Chinese-language Internet
search provider, Baidu, reported revenues
of US$859 million for the quarter ended 30th June 2012 –
representing a 60% year-on-year increase. Net income attributable to the
company was US$436 million, a growth of 70% over last year. Diluted earnings
per share in the period were RMB 7.86 (US$1.24).
The number of active
online marketing customers increased by 18% reaching 352,000 in the second
quarter of 2012 and revenue per online marketing customer in the period was US$2,440,
a rise of 35% over 2011.
Baidu’s management
expects revenues in the third quarter to be between US$983 million and US$1.01
billion, representing an increase of 50% to 54% over the corresponding period
in 2011. Revenues generated in the third quarter of 2011 were US$655 million. The
company stated the forecast reflects its current and preliminary view, which is
subject to change.
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