Saturday, February 25, 2012

Baidu records 83% increase in 2011 revenues

News this week: NASDAQ-listed Baidu, the leading Chinese-language Internet search provider, released both its fourth quarter and full year results. Revenues in 2011 were US$2.3 billion – that is a year-on-year increase of 83%. Net income attributable to the company in the year jumped 88% reaching US$1.1 million. Diluted earnings per share in the period were RMB 18.99 (US$3.02).

Baidu attributed the growth to the increases in both the number of active online marketing customers and its revenue per customer. Active online marketing customers increased 18% to about 488,000 in 2011 and revenue per customer jumped to US$4,719 – a rise of 55% compared to 2010.

For the quarter ended 31st December, revenues were US$711 million – up 83%. Net income attributable to the company rose by 77% reaching US$326 million. Diluted earnings per share in the period were RMB 5.87 (US$0.93).

Baidu’s management also provided guidance for the first quarter of 2012. Revenues are expected to be between US$667 million and US$688 million – that is an increase of 72%-78% over the first quarter of 2011.

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: