Baidu’s successes in PC traffic and mobile revenue contributed to 36% of total revenue, which was up by 52%.
The leading Chinese language internet search provider has seen major gains, paired with a large expenses bill up by 95% from 2013. Shares took a fall but levelled at only a 1.93 percent drop by Oct 30 5.54am ET.
Third Quarter 2014 Highlights:
Total revenues: RMB13.520 billion ($2.203 billion), a 52.0% increase from the corresponding period in 2013.
Operating profit: RMB3.920 billion ($638.6 million), a 17.4% increase from the corresponding period in 2013.
Net income: RMB3.876 billion ($631.5 million), a 27.2% increase from the corresponding period in 2013.
Diluted earnings: RMB11.00 ($1.79)
Increases in users:
Online marketing customers: 516,000 active in the third quarter of 2014, an 11.2% increase from the corresponding period in 2013 and a 5.7% increase from the second quarter of 2014.
Revenue per online marketing customer: RMB25,900 ($4,220), a 35.6% increase from the corresponding period in 2013 and a 7.0% increase compared to the second quarter of 2014.
Selling, general and administrative expenses: RMB2.700 billion ($439.9 million), an increase of 95% from the corresponding period in 2013, primarily due to an increase in promotional spending for mobile products.
Research and development expenses: RMB1.832 billion ($298.4 million), a 68% increase from the corresponding period in 2013, primarily due to an increase in the number of research and development personnel.
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