Baidu profit Jumps
Baidu.com, reported net income for the 1st quarter jumped 71.5% to $20.9 million, or 60 cents a share, in the first quarter, matching the estimate consensus of analysts polled by Thomson Reuters.
Costs related to Baidu’s Japan operations in the first quarter totaled $4.3 million, which reduced earnings by 12 cents a share.
Revenue jumped 108% to $81.9 million which topped estimates which were for $75 million.
It also beat the company’s own guidance of $73.1 million to $75.1 million.
Online marketing revenue for the first quarter was $81.7 million, representing a 108.5% increase from a year ago. The growth was mainly driven by increases in the number of active online marketing customers as well as revenue per customer.
Baidu had nearly 161,000 active online marketing customers in the first quarter, which represents an increase of 43.8% from a year ago, and a 3.9% over the fourth quarter.
For the second quarter, Baidu expects to generate revenue in the range of $111 million to $114 million, above analysts’ estimates for $101 million.
Shares of Baidu were up 4.1%, or $14, to $356 in after-hours trading.
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It would be great if Baidu supports PPC for us domainers too.
Do you know for a fact they don’t??
Do you have an .cn names??
Nice Info – it’s great to know this
Baidu.com finished up $21.69 a share in Friday trading.