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Baidu posts Q2 revenues up 39% to CNY 7.5 bln

2013-07-25 05:50:00| Telecompaper Headlines

(Telecompaper) Chinese search services provider Baidu reported total revenues of CNY 7.5 billion, representing an increase of 38.6 percent from the corresponding period in 2012. Online marketing revenues amounted to CNY 7.5 billion, up 38.3 percent year-on-year. Baidu had about 468,000 active online marketing customers in Q2, representing a 33 percent increase from the corresponding period in 2012. Other services revenue grew to CNY 21.7 million from CNY 4.7 million. Adjusted EBITDA rose by 8.4 percent to CNY 3.5 billion, while operating profit increased 3.2 percent year-on-year to CNY 2.9 billion. Net profit attributable to Baidu amounted to CNY 2.6 billion, a 4.5 percent decrease from CNY 2.8 billion in Q2 2012. As of 30 June, the company had cash, cash equivalents and short-term investments of CNY 34.1 billion.

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Huawei reports H1 sales up 10.8% to CNY 113.8 bln

2013-07-24 09:46:00| Telecompaper Headlines

(Telecompaper) Huawei reported sales up 10.8 percent year-on-year to CNY 113.8 billion in the first half, driven by steady growth in carrier network equipment, enterprise market expansion and rapid growth in consumer products. The company had reported 5 percent annual revenue growth in the first half of last year. CEO Cathy Meng said Huawei expects to meet its target to increase revenues by 10 percent in the full year and anticipates a 7-8 percent net profit margin. The company did not disclose any profit figures for the first half, although it said it would continue to focus on its pipe strategy, increase investment in core growth areas, and boost efficiency through operational and management reviews and improvements.

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