Chinese search services provider Baidu's revenue for the second quarter increased 78.4 percent to CNY 3.41 billion from CNY 1.9 billion in the year-earlier period. Online marketing revenues were CNY 3.41 billion, representing a 78.4 percent increase from the corresponding period in 2010. Baidu reported approximately 298,000 active online marketing customers, up 17.3 percent year-on year. Revenue per online marketing customer was CNY 11,500, a 53.3 percent increase from the corresponding period in 2010 and a 29.2 percent increase from the previous quarter. Net profit increased 95 percent to CNY 1.62 billion from CNY 837.4 million. Cash and cash equivalents amounted to CNY 9.6 billion at the end of the period. The company expects to generate total revenues in an amount ranging from CNY 3.9-4.05 billion for the third quarter, representing a 75.1-79.5 percent year-over-year increase. This forecast reflects Baidu's current and preliminary view, which is subject to change.
