You will be redirected back to your article in seconds

China’s Baidu Sees Revenues up by 34% at $2 Billion

Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue.

The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a component of cost of revenues were RMB608 million ($98.1 million), representing 4.8% of total revenues, compared to 4.1% in the corresponding period in 2014, and 4.2% in the fourth quarter of 2014,” Baidu said.

“Baidu is redefining the search box by building an ecosystem to connect people with services and drive closed loop transactions. Baidu’s platform is comprehensive and robust, and we plan to fully exploit the huge growth potential ahead — in mobile marketing, online to offline, and key select verticals such as healthcare, education and financial services — by leveraging our solid mobile foundation, exceptional technology advantage, and proven operational experience,” said Robin Li, chairman and CEO of Baidu.

In the second quarter Baidu said that it currently expects to generate total revenues between RMB16.4 billion ($2.64 billion) and RMB16.8 billion ($2.70 billion), representing a minimum 37% year-over-year increase.

With its ADS stock trading at $219, Baidu currently has a market capitalization of $77 billion.

More Biz

  • Paul Haggis Lawsuit

    Paul Haggis Hit With Lawsuit for Alleged Rape, Claims a $9 Million Shakedown

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

  • Sirius Logo

    SiriusXM Hit With Big Rate Hike by Copyright Royalty Board

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

  • Warner Music Group Logo

    Warner Music Taking Disciplinary Action Against Exec VP Jeff Fenster for Sexual Harassment

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

  • Leonardo Da Vinci Salvator Mundi Auction

    How a Restored da Vinci Became the Most Expensive Artwork Ever

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

  • Barry Diller Hollywood

    Barry Diller Eyes $30 Million Gondola to Hollywood Sign (EXCLUSIVE)

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

  • Terry Crews WME

    Terry Crews Signs With UTA After WME Battle

    Chinese Internet giant Baidu reported revenues up by 34% in the first quarter of 2015 to $2.05 billion and net income of $395 million, a 3% decrease. The company said that mobile now accounts for 50% of revenue. The company, which operates China’s most-used search engine, also owns video streaming platform iQIYI. “Content costs as a […]

More From Our Brands

Access exclusive content