Beijing, 26th October: Last week, Baidu, the leading Internet search engine in China, released its financial results for the quarter ended 30th September 2017. Revenues were US$3.5 billion, a 29% increase year-on-year. Net income in the third quarter jumped 156%, amounting to US$1.2 billion. Diluted earnings per share in the quarter were RMB 24.00 (US$3.62).
The vast majority of Baidu’s revenues were generated from its online marketing business (US$3.02 billion). This represents an increase of 22% year-on-year. In the third quarter, Baidu reported it had 486,000 active online marketing customers, down 7% compared with the same quarter of last year. However, revenue per online marketing customer in the quarter grew 31% year-on-year, reaching US$6,147.