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Baidu's revenue rises 36% YoY, profit down 26.7% YoY

Oct 30, 2015 (China Knowledge) – Baidu Inc<BIDU>, China's top internet search provider, has reaped RMB 18.38 billion in its total revenue for the third-quarter of 2015, up 36% from a year earlier, basically in line with analysts' expectation of RMB 18.39 billion.

Online marketing revenues for the third quarter of 2015 were RMB 17.68 billion, representing a 31.7% increase from the corresponding period in 2014. Revenue per online marketing customer for the third quarter was approximately RMB 28,300, 9.3% more than that in the corresponding period in 2014.

Operating profit in the third quarter of 2015 was RMB 2.51 billion, a 35.9% decrease from the previous year. Transaction Services reduced non-GAAP operating margins by 32 percentage points and iQiyi further reduced non-GAAP operating margins by 5.4 percentage points.

Net income attributable to Baidu in the third quarter of 2015 was RMB2.841 billion, a 26.7% decrease from the same period in 2014. Diluted earnings attributable to Baidu per ADS for the third quarter of 2015 were RMB 7.92.

As of Sep 30, 2015, the company had cash, cash equivalents and short-term investments of RMB 70.14 billion. Net operating cash inflow for the third quarter of 2015 was RMB 4.79 billion, and capital expenditures for the third quarter of 2015 were RMB 1.86 billion.

Baidu currently expects to generate total revenues in an amount ranging from RMB 18.20 billion to RMB 18.75 billion for the fourth quarter of 2015, representing a 29.5% to 33.4% year on year increase. Pursuant to Baidu's exchange of Qunar shares with Ctrip, as a result of which Baidu no longer retains voting control of Qunar, and will no longer consolidate Qunar's financials after October 26, 2015.






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