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Baidu's Q4 revenues jump 29%, profit up 1%; plans IPO for iQiyi

2018-02-14 07:58:00| Telecompaper Headlines

(Telecompaper) Chinese search provider Baidu reported total revenues of CNY 23.6 billion (approximately USD 3.62 billion) for the fourth quarter of 2017, a 29 percent increase year-on-year and just ahead of its guidance. Mobile revenue represented 76 percent of total revenues, compared to 65 percent for the fourth quarter of 2016. Net income amounted to CNY 4.2 billion, representing 1 percent growth year-on-year, and adjusted EBITDA increased 78 percent year-on-year to CNY 6.9 billion. 

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