Beijing, 30th October: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th September 2018. Revenues were US$4.1 billion, a 27% increase year-on-year. Net income in the third quarter grew 56%, reaching US$1.8 billion.
The vast majority of Baidu’s revenues were generated from Baidu core business (US$3.15 billion). This represents an increase of 25% year-on-year. In the third quarter, Baidu reported it had about 522,000 active online marketing customers, up 7% year-on-year. Meanwhile, revenue per online marketing customer in the quarter jumped 80% year-on-year to US$6,300.
Robin Li, Baidu’s Chairman and CEO, said, “Baidu delivered a solid third quarter with impressive results from search, feed and new AI businesses. Feed revenue has been a bright spot in driving Baidu’s revenue growth due to robust user traffic growth, as well as strong traction with Baidu’s video offerings.”
Source: Baidu press release