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Technology / AI and automation

Baidu reports 39% rise in Q2 revenue

Chinese search engine firm Baidu has reported 39% rise in its revenue during the second quarter of 2013 to $1.23bn (CNY7.56bn), while its online marketing revenues reached $1.22bn.

The company’s net income dropped 4.5% to $430m (CNY2.64bn), compared to the corresponding quarter in 2012.

During the quarter, the Chinese firm added about 58,000 active online marketing customers, which is mainly driven by its business related to mobile, with overall customers reaching 468,000.

Reports also reveal that revenues from the company’s mobile services exceeded 10% of its quarterly total for the first time during Q2.

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Baidu chairman and chief executive Robin Li Yanhong the adoption of the company’s mobile platform gained momentum and mobile monetisation improved.

"Mobile revenues for the first time accounted for over 10% of our total revenues this quarter," Yanhong said.

"Our recent investments have further strengthened Baidu’s position in key strategic areas such as search, LBS, app distribution and online video."

In July, the company agreed to acquire app store 91 Wireless for $1.9bn, in a bid to expand its core search business and strengthen its presence in the mobile market, while rivalling Qihoo 360 Technology.

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.