Baidu’s revenues up 32% in Q2

Beijing, 31st July: Earlier this week, Baidu, the leading Chinese language Internet search provider, announced its financial results for the quarter ended 30th June 2018. Total revenues in the quarter were US$3.9 billion, a 32% increase over the same period in 2017. Net income in the second quarter grew 45% year-on-year amounting to US$967 million. Diluted earnings per share in the quarter were RMB 18.14 (US$2.74).

More than 81% of total revenues (US$3.2 billion) were generated from Baidu’s online marketing services, an 18% increase year-on-year. The company had approximately 511,000 active online marketing customers in the quarter, up 9% compared with the same period last year. Meanwhile, revenue per online marketing customer in the quarter increased by 16% reaching US$6,200.

In the third quarter of 2018, Baidu’s management expects to generate total revenues of between US$3.91 billion and US$4.11 billion representing an increase of between 26% and 33% compared with the same period last year. That figure excludes the impact from previously announced divestures.

Source: Baidu press release