Earnings: Baidu Momentum Continues As Q2 Profits Rise 142.7 Percent

Beijing-based search company Baidu (Nasdaq: Bidu) grew its Q2 net income 142.7 percent to $18.6 million year-over-year. Revenues also surged, reaching $52.7 million, a 109.4 percent increase from Q206.

— The company’s strong performance was fueled by the increase in online marketing customers, which rose in number to 128,000, an increase of 14.3 from Q1’s 112,000. Revenue per online marketing customer came in $407.3, a gain of 24 percent over Q1.

— Traffic acquisition costs were 11.2 percent of revenues, representing $5.9 million. In Q206, TAC was 9.2 percent of revenues.

— In Q3, Baidu expects to generate revenues ranging from $64.6 million to $66.5 million, which would be an increase between 106 percent to 111 percent over Q306, It would also represent 23 percent to 26 percent growth over Q2. Earnings release | Webcast

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