Chinese language internet search provider Baidu saw its total revenues reach CNY 23.5 billion (approximately USD 3.53 billion) for the third quarter of 2017, representing an increase of 29 percent year-on-year. Operating profit reached CNY 4.7 billion, up 69 percent from the corresponding period in 2016. Net income stood at CNY 7.9 billion, representing a 156 percent growth year-on-year.
Basic and diluted earnings per ADS for the third quarter of 2017 amounted to CNY 24 and CNY 24, respectively. The company ended September 2017 with cash, cash equivalents and short-term investments of CNY 108.1 billion (approximately USD 16.25 billion). Capital expenditures for the third quarter of 2017 were CNY 1.3 billion. Adjusted EBITDA reached CNY 6.8 billion for the third quarter of 2017, up 62 percent from the year-earlier period.
Baidu currently expects to generate total revenues in the fourth quarter of 2017 between CNY 22.23 billion (approximately USD 3.34 billion) and CNY 23.41 billion (USD 3.52 billion), representing a year-on-year growth of 22 to 29 percent. Excluding disposed businesses, such as mobile games and Baidu Deliveries, the guidance represents a year-on-year growth of 28 to 34 percent.
