Baidu Reports Solid Revenues, Profit in Q4 2009

Most revenues were related to online advertising.

Chinese search company Baidu posted Q4 2009 earnings yesterday afternoon. Revenues came in at $184.7 million, up 39.8% from Q4 2008. Net income was $62.7 million, up 48.2% year-over-year.

"The year ended on a positive note as Phoenix Nest's better than anticipated performance helped us to exceed expectations for the fourth quarter," said Robin Li, Baidu's chairman and chief executive officer.

Online ads were responsible for the great majority of revenues, coming in at $184.6 million. 223,000 advertisers ran campaigns on Baidu in the fourth quarter. Revenue per customer was $828, up 23.9% from Q4 2008 but down 3.4% from the previous quarter.

"This encouraging performance is a reflection of Baidu's relentless focus on execution and innovation. With a solid base of users and customers, our foundation is stronger than ever and we will continue to drive innovation to capture market opportunities ahead," concluded Li.