Baidu’s total revenues in Q4 2014 were RMB14.050 billion ($2.264 billion), a 47.5% increase YoY. Mobile revenue represented 42% of total revenue, up from 36% in Q3 2014.
In December, for the first time Baidu search revenue from mobile surpassed PC. Baidu expects mobile’s monetization rate to trend up throughout year 2015.
Baidu operating profit in Q4 2014 was RMB2.952 billion ($475.8 million), a 7.8% increase YoY; net income was RMB3.229 billion ($520.4 million), a 16.0% increase YoY.
Baidu Performance in 2014
Total revenues in fiscal year 2014 were RMB49.052 billion ($7.906 billion), a 53.6% increase from 2013. Mobile revenue represented 37% of total revenue for fiscal year 2014. Operating profit was RMB12.804 billion ($2.064 billion), an only 14.4% increase from 2013.
Net income attributable to Baidu in fiscal year 2014 was RMB13.187 billion ($2.125 billion), a 25.4% increase. Diluted earnings attributable to Baidu per ADS for the fiscal year 2014 were RMB37.32 ($6.01); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for fiscal year 2014 were RMB40.05 ($6.45).
Baidu transitioned from a PC-centric to a mobile-first company in 2014, positioning well for the next phase of their mobile opportunity. According to Chinese research company EnfoDesk, Baidu has the largest mobile app distribution network in Q4 2014.
Baidu invested RMB6.981 billion ($1.125 billion) in research and development, a 70% increase from 2013，primarily due to an increase in the number of research and development personnel.
Baidu expects to generate total revenues in an amount ranging from RMB12.645 billion ($2.038 billion) to RMB13.065 billion ($2.106 billion) for Q1 2015, representing a 33.2% to 37.6% increase YoY.
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