Friday, November 07, 2014

Baidu’s Q3 revenue jumps 52%

News this week: NASDAQ-listed Baidu, the leading Chinese language Internet search provider, has announced its results for the third quarter ended 30th September 2014. Revenues grew to US$2.2 billion, a jump of 52% compared with the same quarter in 2013. Net income attributable to the company was up 27% from last year to US$632 million. Diluted earnings per share were RMB 11.00 (US$1.79).

As of 30th September, Baidu’s active online marketing customers rose year-on-year by 11% to about 516,000. Revenue per online marketing customer this quarter jumped to US$4,220 – a growth of 36% compared with the third quarter of 2013.

Robin Li, chairman and CEO of Baidu, said, “We had another very strong quarter as we continued to leverage our tremendous assets, especially in mobile. This quarter, mobile traffic surpassed PC traffic and mobile revenue contributed 36% of our total revenue. We are particularly pleased with the progress we have made in connecting people with services through innovative O2O initiatives like Baidu Connect — a better way for businesses to connect with their targeted consumers on mobile devices.”

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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