April 26, 2018 / 8:39 PM / 3 months ago

CORRECTED-OFFICIAL-BRIEF-Baidu Says Qtrly Non-GAAP Net Income Per ADS RMB 13.03 (April 26)

(Corrects fifth bullet and headline to say company reported non-GAAP earnings per ADS of RMB 13.03, not RMB 16)

April 26 (Reuters) - Baidu Inc:

* SEES Q2 2018 REVENUE UP 26 TO 33 PERCENT

* QTRLY TOTAL REVENUES WERE RMB 20.9 BILLION ($3.33 BILLION), INCREASING 31% YEAR OVER YEAR

* QTRLY NET INCOME ATTRIBUTABLE TO BAIDU WAS RMB 6.7 BILLION ($1.1 BILLION) AND DILUTED EARNINGS ATTRIBUTABLE TO BAIDU PER ADS WAS RMB 19 ($2.98)

* QTRLY NON-GAAP NET INCOME ATTRIBUTABLE TO BAIDU RMB4,585 MILLION ($731 MILLION) AND NON-GAAP DILUTED EARNINGS PER ADS RMB13.03 ($2.08)

* COMPANY IS PLANNING TO DISPOSE OF A MAJORITY EQUITY STAKE IN BAIDU’S FINANCIAL SERVICE BUSINESS

* FOR Q2 OF 2018, BAIDU EXPECTS REVENUES TO BE BETWEEN RMB 24.91 BILLION ($3.97 BILLION) AND RMB 26.19 BILLION ($4.17 BILLION)

* PLANNING TO DISPOSE OF A MAJORITY EQUITY STAKE IN BAIDU’S FINANCIAL SERVICE BUSINESS

* QTRLY TRAFFIC ACQUISITION COST WAS RMB 2.3 BILLION ($360 MILLION), REPRESENTING A 3% INCREASE YEAR OVER YEAR

* RMB 41.2 BILLION RELATED WITH CO’S FINANCIAL SERVICE BUSINESS WERE RECLASSIFIED TO ASSETS, LIABILITIES HELD FOR SALE ON BALANCE SHEET AS OF MARCH 31

* QTRLY REVENUE PER ONLINE MARKETING CUSTOMER WAS APPROXIMATELY RMB 36,100 ($5,800), A 19% INCREASE YEAR OVER YEAR

* IN QUARTER, HAD APPROXIMATELY 475,000 ACTIVE ONLINE MARKETING CUSTOMERS, REPRESENTING A 5% INCREASE YEAR OVER YEAR

* QTRLY REVENUE FROM BAIDU CORE REACHED RMB 16.1 BILLION, UP 26%, WHILE REVENUE FROM IQIYI REACHED RMB 4.9 BILLION, UP 57% Source text for Eikon: Source text for 6-K filing: (bit.ly/2HFNL6x) Further company coverage:

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