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In detail, revenues from online marketing arrived at CNY 1.2782 billion, leaping 39.2% from the third quarter of 2008 and 16.6% from the second quarter of 2009. Revenues from other businesses reached CNY 511,000. Online marketing was still the major revenue generator for Baidu, contributing nearly 100% to the company's total revenues.
In the third quarter of 2009, Baidu had approximately 216,000 active marketing customers, increasing 11.3% from July-September 2008 and 6.4% from April-June 2009. Average revenue from each customer was CNY 5,900, rising 25.5% year on year and 9.3% quarter on quarter.
Gross profit for the third quarter of 2009 touched CNY 836 million. Gross margin was 65.4%, higher than 63.7% in Q2 2009 but lower than 66.3% in Q3 2008.
Operating profit came to CNY 521 million, growing 41.6% year on year and 23.3% quarter on quarter. Operating profit margin jumped to a record high of 40.8%, compared with 40.1% in Q3 2008 and 38.5% in Q2 2009.
Net income widened to CNY 492.9 million, compared with CNY 348 million in Q3 2008 and CNY 383 million in Q2 2009. Basic and diluted earnings per share stood at CNY 14.23 and CNY 14.14. Excluding share based compensation expenses (non-GAAP), net income reached CNY 514.1 million. Basic and diluted earnings per share reached CNY 14.84 and CNY 14.75 respectively.
Operating expenses amounted to CNY 314 million, less than CNY 241 million in Q3 2008 and CNY 276 million in Q2 2009. Marketing, general, and administrative expenses increased 21.1% year on year and 9.7 quarter on quarter to CNY 197.7 million. Research and development expenses rose 49.2% year on year and 21.7% quarter on quarter to CNY 116.7 million.
Cash, cash equivalents, as well as short-term investments had totaled CNY 4 billion by September 30, 2009, more than CNY 3.35 billion at the end of June 2009.
Looking ahead, the Nasdaq-listed company forecasts that its total revenues for the fourth quarter of the year will range between CNY 1.19 billion and CNY 1.23 billion, growing 32% to 36% year on year.
(USD 1 = CNY 6.83)
Source: www.163.com (October 27, 2009)
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