Baidu.com (BIDU) Tops Q2 EPS by 5c; Issues Solid Q3 Rev Outlook
"We made solid progress in the second quarter, adding a record 58,000 online active customers," said Robin Li, chairman and chief executive officer of Baidu. "The adoption of our mobile platform gained momentum and mobile monetization improved. Mobile revenues for the first time accounted for over 10% of our total revenues this quarter."
Mr. Li continued, "Our recent investments have further strengthened Baidu's position in key strategic areas such as search, LBS, app distribution and online video. Our market-leading technology, innovative new products and unrivaled customer value proposition will keep us at the heart of the Internet in China."
"We are encouraged to see clear progress in key investment areas," commented Jennifer Li, Baidu's chief financial officer. "We will continue to invest aggressively and remain committed to building long-term value for our shareholders."
Baidu.com sees Q3 2013 revenue of $1.422-1.46 billion, versus the consensus of $1.35 billion.
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