Chinese search engine company Baidu Inc. announced its unaudited financial results for the second quarter ended June 30, 2009, and stated total revenues were CNY1.097 billion, a 36.7% increase from the corresponding period in 2008.
"Our focus on execution drove another strong quarter for Baidu," said Robin Li, Baidu.com's chairman and CEO. "Our ongoing initiatives to improve user and customer experience further solidified Baidu's leading market position as both large companies and SMEs are increasingly drawn to the superior ROI offered by Baidu's P4P platform."
Baidu had about 203,000 active online marketing customers in the second quarter of 2009, representing a 12.2% increase from the corresponding period in 2008 and a 9.7% increase from the previous quarter. Revenue per online marketing customer for the second quarter was approximately CNY5,400, a 22.7% increase from both the corresponding period in 2008 and the previous quarter.
Operating profit was CNY422.8 million, representing a 53.0% increase from the corresponding period in 2008. Net income was CNY383.3 million, representing a 44.6% increase from the corresponding period in 2008.
Baidu currently expects to generate total revenues in an amount ranging from CNY1.260 billion to CNY1.290 billion for the third quarter of 2009, representing a 15% to 18% sequential increase.