# Baidus first quarter revenue of 20 billion 907 million yuan, net profit of 6 billion 694 million yuan

2018-04-26 23:25:22
category:Internet

Baidu accounted for 78% of mobile revenues in the first quarter, up from 70% in the same period last year. In 2018, we started strong, our core business grew rapidly, and the strategy of consolidating the mobile foundation and winning the AI era continued to push forward. Through continuous innovation, the dual engine combination of search and information flow shows a strong commercialization capability, the number of DuerOS hardware partners is increasing, and the Apollo open platform shows great potential to become a world-class technical platform. Baidu chairman and CEO Robin Li said, at the same time, congratulations on the successful listing of Iqiyi. In the future we want to hatch more business with huge market space and have a strong synergy with Baidu. Baidu CFO Yu Zhengjun said: Baidu again this quarter achieved steady performance progress, the first quarter revenue of 20 billion 900 million yuan, 31% year-on-year growth, operating profit 4 billion 600 million yuan, an increase of 128% over the same period. Over the past year, we have achieved unprecedented focus in business by divestiing non core businesses and increasing investment in AI driven businesses. Major financial data Baidus total revenue in the first quarter of 2018 was 20 billion 907 million yuan (or 31%), an increase of 23.8% over the same period last year. Among them: The revenue of online marketing business is RMB 17 billion 169 million yuan (about 31% growth), an increase of 16.5% over the same period last year. The number of active customers in online marketing in the first quarter was about 475000, an increase of 23% over the same period last year. The revenue generated by each online marketing customer is about $5800, or 19%, compared with 26% in the same period last year. Sales, executive and administrative expenses amounted to 3 billion 142 million yuan (12%), an increase of 11.5% over the same period last year. R & D expenditure is RMB 3 billion 294 million yuan (about 16%), an increase of 16.2% over the same period last year. The net profit of the Baidu Inc listed part of the Baidu Inc was RMB 6 billion 694 million yuan (about 277%), and the net profit was 1 billion 777 million yuan in the same period last year, with a year-on-year increase of 276.7%, and the profit of each ADS was 18.68 yuan (about 2.60 US dollars). The net profit (non-GAAP) was 5 billion 734 million yuan (about 277%), and the net profit was 2 billion 395 million yuan in the same period last year, with a year-on-year increase of 139.4%, and the profit of each ADS was 16.30 yuan (about $2.60). In the second quarter of 2018, the total revenue of Baidu is expected to be between 24 billion 910 million yuan (about $3 billion 970 million) and 26 billion 190 million yuan (about $4 billion 170 million), up from 26% to 33% over the same period. The removal of Baidu mobile games and Baidu takeaway impact increased by 28% to 34% over the same period. (author: EditorAI) source: NetEase science and technology report editor: Bai Xin _NT4464 The net profit (non-GAAP) was 5 billion 734 million yuan (about 277%), and the net profit was 2 billion 395 million yuan in the same period last year, with a year-on-year increase of 139.4%, and the profit of each ADS was 16.30 yuan (about $2.60). In the second quarter of 2018, Baidus revenue will be between 24 billion 910 million yuan (about $3 billion 970 million) and 26 billion 190 million yuan (about $4 billion 170 million), up from 26% to 33% over the same period. The removal of Baidu mobile games and Baidu takeaway impact increased by 28% to 34% over the same period. (author: EditorAI)