Beijing, 27th April: Baidu, a leading Chinese-language Internet search provider, announced this week that its revenues grew to US$118.6 million in the first quarter of 2009. That is an increase of 41% compared with the same quarter in 2008. Operating profit was US$29.1 million – up 34.7% year-on-year. The number of active online marketing customers increased nearly 15% to 185,000 in the first quarter of 2009. Revenue per customer increased to US$644, a jump of more than 22% over 2008.  Baidu’s net income was US$26.5 million, a 23% rise compared with the same quarter last year. Diluted earnings per share were US$0.76. The company’s management remains optimistic and is forecasting revenues in the second quarter of 2009 to be between US$157 million and US$161 million.   Source: Baidu press release

BIIA Newsletter May 2009 Issue