Baidu.com Inc (BIDU)

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Baidu Announces Second Quarter 2014 Results
Thu July 24, 2014 4:30 PM|PR Newswire | About: BIDU


BEIJING, July 24, 2014 /PRNewswire/ -- Baidu, Inc. (BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results for the second quarter ended June 30, 2014[1].
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Second Quarter 2014 Highlights

Total revenues in the second quarter of 2014 were RMB11.986 billion ($1.932 billion), a 58.5% increase from the corresponding period in 2013.
Operating profit in the second quarter of 2014 was RMB3.558 billion ($573.6 million), a 22.5% increase from the corresponding period in 2013.
Net income attributable to Baidu in the second quarter of 2014 was RMB3.547 billion ($571.7 million), a 34.1% increase from the corresponding period in 2013. Diluted earnings attributable to Baidu per ADS for the second quarter of 2014 were RMB10.09 ($1.63); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2014 were RMB10.72 ($1.73).

"We had a great quarter as we continued to build very strong mobile momentum. As the clear leader in mobile search, mobile map and app distribution, mobile revenue for the first time ever contributed to 30 percent of our total revenue", said Robin Li, chairman and chief executive officer of Baidu. "We deepened our investment in advanced technologies like Deep Learning, which is already yielding near term enhancements in user experience and customer ROI and is expected to drive transformational change over the longer term."