Baidu, a leading Chinese language Internet search provider, released its fourth quarter and full-year results.  Revenues in the fiscal year 2008 were US$468.8 million.  That is a year-on-year increase of 83%.  The number of active online marketing customers increased by 32.7% to 284,000 in 2008.  Net income rose by nearly 67% reaching US$153.6 million.  Diluted earnings per share for the fiscal year were US$4.43.

Fourth quarter revenues were US$132.2 million which is an increase of 58%. Net income rose by 31.3% reaching US$42.3 million. Diluted earnings per share were US$1.22 in the quarter. Revenue per customer increased to US$1,642 an increase of 38% over 2007.  Baidu’s management provided guidance for the first quarter of 2009. Revenues are expected to be between US$114 million and US$117 million, a 36% to 39% increase over the first quarter of 2008.  

Source: Baidu Press Release

BIIA Newsletter March 2009 Issue