News this week: Last week, leading Chinese-language
Internet search provider, Baidu, reported revenues of US$1.93 billion for the quarter ended 30th
June 2014 – a jump of 59% year-on-year. Net income attributable to the company grew
34% from last year, amounting to US$572 million. Diluted earnings per share in
the period were RMB 10.09 (US$1.63).
Most of Baidu’s
revenues were generated from its online marketing services, which amounted to
US$1.91 billion. In the second quarter of 2014, the number of active online
marketing customers grew moderately by 4.3% over last year, reaching 488,000.
Revenue per online marketing customer in the period was US$3,901, up 50% year-on-year.
Robin Li, chairman
and CEO of Baidu, said, “We had a great quarter as we continued to build very
strong mobile momentum. As the clear leader in mobile search, mobile map and
app distribution, mobile revenue for the first time ever contributed to 30% of
our total revenue.”
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