Baidu’s profits jumps 83% in Q2

Beijing, 27th July: Last week, Baidu, the leading Chinese language Internet search provider, announced its financial results for the quarter ended 30th June 2017. Total revenues in the quarter were US$3.1 billion – representing a 14% increase over the same period in 2016. Net income in the second quarter of 2017 jumped 83% year-on-year amounting to US$651 million. Diluted earnings per share in the period were RMB 11.31 (US$1.67).

More than 85% of total revenues (US$2.6 billion) were generated from Baidu’s online marketing services. That is a 5.6% increase year-on-year. The company had approximately 471,000 active online marketing customers in the quarter, down 21% compared with the same period last year. However, revenue per online marketing customer in the quarter grew 32% reaching US$5,532.

Baidu’s management expects to generate total revenues of between US$3.41 billion and US$3.50 billion in the third quarter of 2017. That would represent an increase of between 27% and 30% compared with the same period last year.

Source: Baidu press release