Baidu goes from strength to strength as China embraces mobile internet usage.
Baidu Inc，the leading Chinese language Internet search provider, today announced its unaudited financial results for the second quarter which ended June 30, 2015.
Baidu seeks to provide the best way for people to find information. It serves both individual Internet users and provides an effective platform for businesses to reach potential customers.
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“We delivered solid financial results in the second quarter of 2015, with our core search business exhibiting strong growth and attractive profitability,” said Jennifer Li, CFO of Baidu.
“With the solid base of our core search business, coupled with upward momentum of our O2O e-commerce initiatives, we continue to invest decisively in the ‘Next Baidu’.
The ‘Next Baidu’
The ‘Next Baidu’ has its sights set firmly on the future, with a significant growth in active users on mobile. Robin Li, chairman and CEO of Baidu said in a statement; “we are creating a transactional business model as Baidu grows and evolves in the age of mobile.. with powerful mobile gateways to leverage, we are ideally positioned to capture the O2O e-commerce opportunity”.
Mobile search monthly active users (MAU’s) were 629 million for the month of June 2015, an increase of 24% year-over-year whilst MAU’s on mobile maps were 304 million for the same month, an increase of 48% year-over-year.
Baidu Financial News 2015
In the second quarter of 2015 Baidu’s revenues were RMB16.575 billion ($2.673 billion), this signifies a 38.3% increase from the corresponding period in 2014. Mobile revenue represents 50% of this total figure, the internet has truly gone mobile in China with a dramatic increase in Smartphone usage and improved Wi-Fi networks in urban areas contributing to this trend and thus an increase in profits.
The internet giant’s positive results reflect their dominant position in the Chinese market as well as their willingness to embrace new developments in mobile technology and O2O (offline to online) marketing. These new trends present a significant opportunity for the firm to further increase their total revenues and market share into the next quarter.
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