Chinese search engine giant Baidu has posted its third quarter 2012 results, ended September 30, 2012. The company reported the total revenues in the quarter were RMB6.251 billion ($994.6 million), a 49.7% increase from the corresponding period in 2011. The operating profit was RMB3.297 billion ($524.6 million), a 48.1% increase from the corresponding period in 2011. The net income reported was RMB3.008 billion ($478.6 million), a 59.8% increase from the corresponding year 2011 while diluted earnings per share were RMB8.59 ($1.37).
“We are pleased to report a solid performance for the third quarter driven by encouraging customer growth and improvements to our monetization platform,” said Robin Li, chairman and chief executive officer of Baidu. “During the quarter, we worked to improve user experience by more closely integrating Baidu’s suite of market-leading vertical products with Web search,” continued Mr. Li. “Mobile and cloud represent our vision for the future of China’s Internet, and Baidu will continue to proactively drive the development of this crucial ecosystem. We stand ready to meet the challenges and capture the opportunities the PC-to-mobile transition presents.”
