3d Quarter report released by Baidu

[img_assist|nid=10710|title=|desc=|link=none|align=left|width=100|height=75]Unaudited financial results were announced by the leading Chinese language Internet search provider Baidu.com, Inc. for the 3d quarter ended September 30, 2008.

The report released by the company shows that total revenues in the third quarter of 2008 raised 85.1% to $135.4 million.

Operating profit in the quarter accounted for $54.2 million, which is a 119.1% increase above the same period last year.

Net income amounted $51.2 million, a 91.4 % increase over the 3d quarter in 2007.

Diluted earnings per share were $1.47. Diluted EPS excluding share-based compensation expenses (non-GAAP) were $1.54.

During the third quarter the number of Internet marketing customers increased 7.2% to 194,000.

"I'm pleased to announce solid results for the third quarter," said Robin Li, Baidu's chairman and chief executive officer. "As China's leader in paid search, Baidu has a large and diverse customer base covering numerous industries and sectors. Such diversity gives us great stability and positions us to capture future growth. Companies throughout China are increasingly recognizing the value of Baidu's paid search as an effective marketing tool and we remain confident in our long-term growth potential."