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Baidu revenues soar over 50% in Q4
2014-02-27 08:40:00| Telecompaper Headlines
(Telecompaper) Chinese search engine Baidu said fourth quarter revenues soared over 50 percent from the year before to CNY 9.52 billion, with online market revenues up 50.5 percent to CNY 9.46 billion. The number of active online marketing customers rose by 11.1 percent to 451,000, with revenue per online marketing customer lifting 34.8 percent to CNY 20,900. Traffic acquisition cost represented 12.3 percent of total revenues, compared to 9.6 percent the year earlier. The company said the increase mainly reflects increased contextual ads contributions and hao123 promotions through the company's network. Adjusted EBITDA rose 7.2 percent from the year earlier to CNY 3.56 billion. Group operating profit meanwhile slipped 3.8 percent to CNY 2.74 billion while the net profit went 0.4 percent lower to CNY 2.78 billion or CNY 0.92 per share. At end December, the company had cash, cash equivalents and short-term investments of CNY 38.427 billion. Baidu currently expects to generate total revenues at CNY 9.240-9.520 billion for the first quarter, up 54.8-59.5 percent from the year before.
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Category:Telecommunications