International News

(Telecompaper) Chinese search services provider Baidu's total revenues for the fourth quarter increased 82.5 percent to CNY 4.47 billion, from CNY 2.45 billion in the year ago quarter. Online marketing revenues grew 82.3 percent to CNY 4.46 billion. Adjusted EBITDA rose 83.9 percent to CNY 2.64 billion, and net profit grew 76.9 percent to CNY 2.05 billion or CNY 5.88 per ADS. Cash and cash equivalents amounted to CNY 4.13 billion at the end of the quarter. Baidu had about 311,000 active online marketing customers at year-end, representing a 12.7 percent increase. Revenue per online marketing customer increased 61.8 percent to approximately CNY 14,400. Baidu expects to generate revenues of CNY 4.195-4.330 billion for the first quarter this year, representing a 72.2-77.7 percent year-over-year increase.