Baidu aims to clock $1.21 billion revenue with 38% growth in Q2

Infotech Lead Asia: Chinese language Internet search provider Baidu aims to clock revenues of $1.18-$1.21 billion in the second quarter of 2013, up 35.1 percent to 38.4 percent growth.

In Q1, Baidu’s revenue rose 40 percent to $961 million.

Online marketing revenues rose 39.7 percent to $958.5 million.

Baidu had about 410,000 active online marketing customers in the first quarter of 2013, up 27.7 percent.

Revenue per online marketing customer for the first quarter was approximately $2,335, a 9.0 percent increase.

Operating profit in the first quarter of 2013 increased 5.7 percent to $355.9 million.

Net income of Baidu increased 8.5 percent to $328.9 million.

Baidu invested $130.5 million in research and development. The increase was due to an increase in the number of R&D personnel.

Robin Li, chairman and chief executive officer of Baidu, said: “Our mobile offering is making exciting progress, with our flagship mobile search product having now surpassed 100 million daily active users, an over 25 percent increase from the end of the fourth quarter.”

Developing the most advanced search technology remains central to Baidu’s overall strategy.

Its focus will remain on integrating its search core with valuable vertical products in areas such as travel, e-commerce and location based services to bring users the information they want as quickly as possible on both desktop and mobile devices.

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