Baidu Q1 revenues soar 59%, net profit up 24%

Friday 25 April 2014 | 10:00 CET | News
Chinese internet search provider Baidu reported first-quarter revenues up 59.1 percent year-on-year to CNY 9.5 billion. The growth was led by an 8.8 percent rise in the number of online marketing customers as well as a 44.1 percent increase in revenue per customer. Operating profit rose a slower 7.4 percent to CNY 2.4 billion. Traffic acquisition costs of CNY 1.2 billion rose to 12.4 percent of revenue from 10.2 a year ago, and Baidu also reported higher R&D, SG&A and content costs, led by promotion of mobile products. Net profit was up 24.1 percent to CNY 2.5 billion. Baidu said growth

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Categories: Internet
Companies: Baidu
Countries: China
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