Chinese Search Giant Baidu Reports $2.2 Billion In Revenue For 3Q 2014
China’s leading search engine Baidu posted its 3Q 2014 earnings yesterday, reporting $2.2 billion (RMB13.520 billion) in total revenue, a 52 percent year over year increase.
According to Baidu chairman and CEO Robin Li, the site’s mobile traffic surpassed PC traffic last quarter, with mobile revenue representing 36 percent of total revenue.
“In the third quarter, our investments in mobile continued to pay off as mobile proved once again to be a strong driver of topline growth,” said Baidu CFO Jennifer Li.
CEO Robin Li said the company’s leading position in mobile search and maps, along with its extensive sales force, puts Baidu in an optimal position to capture current market opportunities.
With 516,000 active online marketing customers, Baidu said it generated $2.188 billion (RMB13.427 billion) in online marketing revenue last quarter, up 51.8 percent from 3Q 2013.
Baidu projects its 2014 revenue totals in the range of $2.25 billion to $2.3 billion, representing a 45 percent to 49 percent year over year increase.
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