April 27, 2017 / 9:49 PM / 3 months ago

BRIEF-Baidu reports qtrly revenue of $2.45 bln

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April 27 (Reuters) - Baidu Inc:

* Baidu announces first quarter 2017 results

* Q1 traffic acquisition cost as component of cost of revenues was RMB2.185 billion ($317.5 million), representing 12.9% of total revenues versus 14.1%

* Total revenues in Q1 of 2017 were RMB16.891 billion ($2.454 billion), a 6.8% increase from corresponding period in 2016

* Total revenues in Q1 of 2017 was $2.454 billion, a 6.8% increase

* Qtrly net income attributable to baidu in Q1 of 2017 was RMB1.777 billion a 10.6% decrease from corresponding period in 2016

* Online marketing revenues for Q1 of 2017 were RMB14.738 billion ($2.141 billion), representing a 1.3% decrease from corresponding period in 2016

* Qtrly non-gaap net income attributable to Baidu in Q1 of 2017 was RMB2.390 billion a 1.3% increase from corresponding period in 2016

* Non-Gaap diluted earnings per ADS for Q1 of 2017 $1.00

* Diluted earnings attributable to Baidu per ADS for Q1 of 2017 were $0.67

* Q2 2017, outlook expects to generate total revenues in an amount ranging from RMB20.470 billion to RMB20.980 billion

* Jennifer Li is taking on role to form Baidu Capital, an investment firm, and serve as its CEO

* Jennifer intends to step down as Baidu's Chief Financial Officer Source text for Eikon: Further company coverage:

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