Baidu.com (NASDAQ: BIDU) reported Q3 EPS of $1.90, $0.21 better than the analyst estimate of $1.69.

Revenue for the quarter came in at RMB13.5 versus the consensus estimate of RMB13.55 billion.

"We had another very strong quarter as we continued to leverage our tremendous assets, especially in mobile. This quarter, mobile traffic surpassed PC traffic and mobile revenue contributed 36% of our total revenue[2]. We are particularly pleased with the progress we have made in connecting people with services through innovative O2O initiatives like Baidu Connect—a better way for businesses to connect with their targeted consumers on mobile devices," said Robin Li, chairman and chief executive officer of Baidu. "It's an exciting time for Baidu. The O2O market opportunity is enormous, and our leading positions in mobile search and maps, as well as our extensive sales force, position us optimally to capture that opportunity."

"In the third quarter, our investments in mobile continued to pay off as mobile proved once again to be a strong driver of topline growth," said Jennifer Li, Baidu's chief financial officer. "To fulfill our vision of connecting people with services and to realize the vast opportunities that mobile brings, we will continue to invest aggressively but judiciously."

raffic acquisition cost (TAC) as a component of cost of revenues was RMB1.742 billion ($283.8 million), representing 12.9% of total revenues, as compared to 11.7% in the corresponding period in 2013 and 12.7% in the second quarter of 2014. The increase reflects increased contribution of contextual ads, mobile and promotion of hao123.

Baidu.com sees Q4 2014 EPS of $2.26-$2.32, versus the consensus of $2.3.

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