Friday, February 08, 2013

Baidu’s revenue jumps 54% in 2012


News this week: NASDAQ-listed Baidu, the leading Chinese-language Internet search provider, released results for its fourth quarter and full fiscal year in 2012. Revenues in the year were US$3.6 billion – an impressive year-on-year growth of 54%. Net income in 2012 increased 58% reaching US$1.7 billion. Diluted earnings per share in the period were RMB 29.83 (US$4.79).

Baidu attributed the growth to increases in both the number of active online marketing customers and revenue per customer. In 2012, the company had about 596,000 active online marketing customers, up 22% from 2011. Revenue per customer was US$5,987 in 2012 – a rise of 26% compared to the previous year.

Baidu’s management expects revenues in the first quarter of 2013 to be between US$945 million and US$976 million, representing an increase of 38% to 43% over the first quarter of 2012.

Robin Li, chairman and CEO of Baidu, said, “We made encouraging progress in 2012, integrating Baidu’s superior search and search-related products and functions, like maps and image recognition, into our offering. In 2013 we will continue to enhance functionality, introduce new products, and step up efforts to push our products to users.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

No comments: