BEIJING, Oct. 29, 2012 /PRNewswire/ -- Baidu, Inc. ( BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results for the third quarter ended September 30, 2012(1).
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Third Quarter 2012 Highlights
Total revenues in the third quarter of 2012 were RMB6.251 billion ($994.6 million), a 49.7% increase from the corresponding period in 2011.Operating profit in the third quarter of 2012 was RMB3.297 billion ($524.6 million), a 48.1% increase from the corresponding period in 2011.Net income attributable to Baidu in the third quarter of 2012 was RMB3.008 billion ($478.6 million), a 59.8% increase from the corresponding period in 2011. Diluted earnings attributable to Baidu per ADS for the third quarter of 2012 were RMB8.59 ($1.37); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for the third quarter of 2012 were RMB8.76 ($1.39).
(1) This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.2848 to US$1.00, the effective noon buying rate as of September 28, 2012 in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.
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"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." |
