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Baidu posts 59% revenue growth in Q1.
01 May 2014 ·
As digital marketers, we’re often blinkered in our strategy and approach to search engines in Western economies relying upon the market shares of Google, Bing and Yahoo.
Anyone involved in international ecommerce knows that this strategy is naïve, with localised search engines providing greater market share and opportunities.
The recent financials released by the Chinese search engine provider, Baidu, report total revenues of $1.53bn in the first quarter of 2014. That’s a 59.1% increase in revenue from the previous year and was up on analysts’ expectations.
With online marketing revenues at $1.51bn, Baidu claims to have had circa 446,000 active online marketing customers during the quarter, an increase from the previous year.
To put that into revenue per online consumer, that’s $3,386, up 44.1% year on year.
Baidu says it is benefitting from being a “cross-platform service” able to meet the needs of mobile users and the rapid mobile adoption by advertisers”.
With mobile penetration at 1 billion users in China, and roughly 40% of them currently using smartphones, that’s a lot of potential customers to target within this mature, growing market – surely a must for anyone with an international strategy?