Earnings: Baidu Revenues Up 107.5 Percent
Baidu‘s revenues for Q307 increased by 107.5 percent year-on-year to RMB496.5 million (US$66.3 million). Net income for the company was RMB181.7 million (US$24.2 million), an increase of 113.2 percent year-on-year, while diluted earnings per share for the quarter were RMB5.23 (US$0.70)...this was better than analysts expected, reports IHT. The vast majority of Baidu’s (NSDQ: BIDU) revenues come from its search marketing business (it has 60.5 percent of the Chinese search market, followed by Google (NSDQ: GOOG) on 23.7 percent and Yahoo (NSDQ: YHOO) on 10.4) and saw its active online marketing customers grow to around 143,000 in the quarter, an increase of 11.6 percent sequentially. Revenue per online marketing customer reached approximately RMB3,500 (US$467.1), representing a sequential increase of 11.0 percent. Earnings Release
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