Chinese Search Engine Baidu’s Q4 Earnings: Revenue Of $711 Million, Net Income Up By 77 Percent

Posted on Feb 17 2012 - 9:39am by Editorial Staff

Chinese search engine Baidu posted its fourth quarter earnings with the revenue up to $711 million, up by 82.5 percent, net income up by 77 percent. Revenues in the fourth quarter of 2011 were RMB4.474 billion ($710.9 million), an 82.5% increase from the same period in 2010. Net income for the quarter was RMB2.054 billion ($326.3 million), a 76.9% increase from 2010. GAAP earnings came in at $0.93; with non-GAAP earnings for the fourth quarter of 2011 $0.95. For the full year in 2011, total revenues were $2.304 billion, representing an 83.2% increase from 2010. Net income for 2011 came in at $1.055 billion, up 88.3% from 2010. Baidu beat Wall Street expectations, with analysts expecting earnings of $0.91, up from 50 cents in Q4 2010.

Fourth Quarter and Fiscal Year 2011 Highlights:

  • Total revenues in the fourth quarter of 2011 were RMB4.474 billion ($710.9 million), an 82.5% increase from the corresponding period in 2010.
  • Total revenues in fiscal year 2011 were RMB14.501 billion ($2.304 billion), an 83.2% increase from 2010.
  • Operating profit in the fourth quarter of 2011 was RMB2.297 billion ($365.0 million), an 80.2% increase from the corresponding period in 2010.
  • Operating profit in fiscal year 2011 was RMB7.577 billion ($1.204 billion), a 91.4% increase from 2010.
  • Net income attributable to Baidu in the fourth quarter of 2011 was RMB2.054 billion ($326.3 million), a 76.9% increase from the corresponding period in 2010. Diluted earnings attributable to Baidu per ADS(2) for the fourth quarter of 2011 was RMB5.87 ($0.93); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for the fourth quarter of 2011 was RMB6.01 ($0.95).
  • Net income attributable to Baidu in fiscal year 2011 was RMB6.639 billion ($1.055 billion), an 88.3% increase from 2010. Diluted earnings attributable to Baidu per ADS for fiscal year 2011 was RMB18.99 ($3.02); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for fiscal year 2011 was RMB19.42 ($3.09).
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