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Chinese Search Engine Baidu’s Q4 Revenue Up 82.5 Percent To $711M; Net Income Up 77 Percent [techcrunch.com]
Chinese search engine Baidu posted Q4 earnings today. Revenues in the fourth quarter of 2011 were RMB4.474 billion ($710.9 million), an 82.5% increase from the same period in 2010. Net income for the quarter was RMB2.054 billion ($326.3 million), a 76.9% increase from 2010. GAAP earnings came in at $0.93; with non-GAAP earnings for the fourth quarter of 2011 $0.95. Baidu beat Wall Street expectations, with analysts expecting earnings of $0.91, up from 50 cents in Q4 2010.
For the full year in 2011, total revenues were $2.304 billion, representing an 83.2% increase from 2010. Net income for 2011 came in at $1.055 billion, up 88.3% from 2010.