BEIJING (dpa-AFX) - Baidu Inc. (BIDU) reported that its fourth-quarter net income attributable to the company was RMB 2.795 billion or $448.7 million, up 36.1% from RMB 2.053 billion in the year ago quarter. Earnings per ADS for the fourth quarter were RMB7.99 or $1.28, compared to RMB 5.87 last year.
Net income attributable to the company excluding share-based compensation expenses was RMB2.862 billion or $459.4 million, a 36.3% increase from the corresponding period in 2011.
Earnings per ADS excluding share-based compensation expenses for the latest-quarter were RMB 8.18 or $1.31. Analysts polled by Thomson Reuters expected the company to report earnings of $1.29 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter were RMB 6.335 billion or $1.017 billion, up 41.6% from RMB 4.474 billion in the year ago quarter. Seventeen analysts had consensus revenue estimate of $1.01 billion for the quarter.
Traffic acquisition cost or TAC as a component of cost of revenues was RMB606.8 million or $97.4 million, representing 9.6% of total revenues, as compared to 7.9% in the corresponding period in 2011 and 8.6% in the third quarter of 2012. The increase mainly reflects increased contextual ads contributions and hao123 promotions through our network.
The company currently expects to generate total revenues in an amount ranging from $945.4 million to $975.9 million for the first quarter of 2013, representing a 38.1% to 42.6% year-over-year increase. Fifteen analysts have consensus revenue estimate of $967.09 million for the first-quarter.
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