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In the quarter ended September 30, 2009, the company's diluted earnings per share reached 2.07 U.S. dollars.
Its third quarter revenues totalled 187.3 million dollars, a 39.1 percent year on year increase. More than 20 percent of its revenues were earned by Phoenix Nest, Baidu's Online Marketing Professional Edition, which now handles 70 percent of the search engine's total users.
Robin Li, chairman and CEO, said that the company has implemented a customer outreach program to ensure a smooth transition to Phoenix Nest, coming on December 1, 2009.
For the fourth quarter of 2009, Baidu has targeted between 174 million to 180 million yuan in total revenues, representing a growth of 32 percent to 36 percent year on year. The achievement would be "moderate" in Baidu's opinion, and is due to temporary negative impacts the company may incur while switching to Phoenix Nest from the previous classic edition.
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