Baidu Q3 2009 Net Profit Up 42% YoY
Baidu Press Releases, 10/26/09
Chinese online search engine Baidu (Nasdaq: BIDU) has reported its unaudited financial results for Q3 ended September 30, 2009, with net revenues reaching RMB 1.279 bln (USD 187.3 mln), up 39.1% YoY, and net profits totaling RMB 492.9 mln (USD 72.2 mln), up 41.7% YoY.
Online marketing revenues for Q3 2009 rose 39.2% YoY to RMB 1.278 bln (USD 187.2 mln). Baidu had approximately 216,000 active online marketing customers in Q3 2009, up 11.3% YoY and up 6.4% QoQ. Revenue per online marketing customer was approximately RMB 5,900 (USD 864), up 25.5% YoY and up 9.3% QoQ.
Traffic acquisition cost (TAC) as a component of cost of revenues was RMB 196.2 mln (USD 28.7 mln), representing 15.3% of total revenues, as compared to 11.8% in the corresponding period in 2008 and 16.0% in the second quarter of 2009.
Baidu currently expects to generate total revenues in an amount ranging from RMB 1.19 bln (USD 174 mln) to RMB 1.23 bln (USD 180 mln) in Q4 2009, representing a 32% to 36% increase QoQ, due to the temporary negative impact anticipated when the Online Marketing Classic Edition is discontinued.
Editor's Note: To view Baidu's full earnings report, please click here. Baidu plans to complete the switchover from its Baidu Classic advertising platform to its Phoenix Nest Platform on December 1.
Keywords: Internet profit revenue Q3 2009 online search Baidu BIDU fiscal report online advertising Phoenix Nest
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