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Baidu sees Q2 revenues jump 58%, net profit up 34%
2014-07-25 08:44:00| Telecompaper Headlines
(Telecompaper) Chinese internet search provider Baidu saw its second-quarter revenues jump by 58.5 percent year-on-year to CNY 11.9 billion. Operating profit increased by 22.5 percent to CNY 3.5 billion. Traffic acquisition costs reached CNY 1.5 billion, accounting for 12.7 percent of revenue from 11.6 a year ago. Net profit was up 34.1 percent year-on-year to CNY 3.5 billion in the second quarter. Adjusted EBITDA (non-GAAP) amounted to CNY 4.494 billion for the second quarter of 2014, representing a 29.3 percent increase from the year-earlier period. For the second quarter, Baidu expects revenues of ranging from CNY 13.4 and CNY 13.7 billion, representing a increase of 50.9 to 55 percent year-on-year.
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Category:Telecommunications