The Chinese-language Internet search provider, Baidu, announced its first quarter results for 2014. Revenues were US$1.5 billion, a jump of 59% over the same period of last year. Net income attributable to the company was US$408 million, up 24% over the first quarter of 2013. Diluted earnings per share in the period were RMB 7.21 (US$1.16).
Most of Baidu’s revenues were generated from its online marketing services. The number of active online marketing customers increased 8.8% to about 446,000 in the first quarter of 2013, while revenue per customer grew to US$3,362 – a jump of 44% over the corresponding period of last year.
Source: Business Strategies Group Hong Kong – www.bsgasia.com