Chinese internet giant Baidu has reported net income of RMB 7.9bn ($1.2bn) for Q3 2017, a 156% increase year-on-year.
Baidu’s total revenues increased 29% to reach RMB 23.5bn ($3.5bn), driven by mobile revenues which accounted for 73% of total revenues up from 64% in Q3 2016.
Online marketing revenues were RMB 20.1bn ($3.02 bn), up 22% year on year, however, Baidu reported a 7% decrease in online marketing customers which totalled 486,000 for the quarter.
Baidu’s video platform iQIYI, which this year inked a licensing deal with Netflix, contributed to the company’s increased content costs, with a rise in Read full story ›
Source: The Drum
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