Beijing, 26th April: Last week, Baidu, the leading Chinese language Internet search provider, announced its financial results for the quarter ended 31st March 2018. Total revenues in the quarter were US$3.3 billion, which represents a 31% increase over the same period in 2017. Net income in the quarter jumped 277% year-on-year, reaching US$1.1 billion. Diluted earnings per share in the period were RMB 18.68 (US$2.98).
More than 82% of its total revenues (US$2.7 billion) were generated from Baidu’s online marketing services. That is a16% increase year-on-year. The company recorded approximately 475,000 active online marketing customers in the quarter, a 5% increase over the same period in 2017. Revenue per online marketing customer in the quarter grew 19%.