Baidu reported total revenues of RMB16.891 billion ($2.454 billion) for the first quarter of 2017, representing a 6.8% increase from the corresponding period in 2016.
Online marketing revenues for Q1 2017 were RMB14.738 billion ($2.141 billion), representing a 1.3% decrease from the corresponding period in 2016.
Baidu had about 451,000 active online marketing customers in Q1 2017, representing a 23.2% decrease from Q1 2016. Revenue per online marketing customer for Q1 was approximately RMB32,200 ($4,678), a 26.8% increase from the corresponding period in 2016.
Operating profit was RMB2.006 billion ($291.4 million), representing a 9.3% decrease from Q1 2016. Non-GAAP operating profit was RMB2.636 billion ($383.0 million), representing a 4.6% increase from the corresponding period in 2016.
Net income attributable to Baidu was RMB1.777 billion ($258.1 million), representing a 10.6% decrease from Q1 2016. Basic and diluted earnings per ADS for Q1 2017 amounted to RMB4.65 ($0.68) and RMB4.63 ($0.67), respectively.
Baidu today also announced that Jennifer Li is taking on the role to form Baidu Capital, an investment firm, and serve as its CEO. Jennifer intends to step down as Baidu’s chief financial officer, a position she has served in for nine years, following the appointment of a successor to ensure a seamless transition of her responsibilities.