Baidu Reports Q1 2013 Earnings, Revenues $961 Million, Profit $356 Million

Posted on Apr 26 2013 - 2:50am by Editorial Staff

Baidu

The Chinese search giant Baidu today announced its unaudited financial results for the first quarter ended March 31, 2013. The company reported the total revenues in the quarter were RMB5.969 billion ($961 million), a 40.0% increase from the corresponding period in 2012. Operating profit in the first quarter of 2013 was RMB2.210 billion ($355.9 million), a 5.7% increase from the corresponding period in 2012.

“We saw healthy financial results in the first quarter of 2013 as we continued to invest in establishing China’s leading mobile ecosystem.” said Robin Li, chairman and chief executive officer of Baidu. “Our mobile offering is making exciting progress, with our flagship mobile search product having now surpassed 100 million daily active users, an over 25% increase from the end of the fourth quarter.”

For the second quarter of 2013, Baidu expects revenues in the range of RMB7.370 billion ($1.187 billion) to RMB 7.550 billion ($1.216 billion), representing growth of 35.1 percent to 38.4 percent year-over-year.

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