BEIJING (dpa-AFX) - Chinese Internet search company Baidu Inc (BIDU) on Wednesday reported fourth-quarter net earnings of 3.2 billion remnibis, or $520.4 million; compared with 2.8 billion remnibis a year ago.
On a per American depositary share basis, earnings for the quarter were 9.01 remnibis, or $1.45; compared with 7.90 remnibis last year.
Excluding items, adjusted earnings for the quarter were 9.97 remnibis, or $1.61, per ADS. Analysts polled by Thomson Reuters estimated earnings of 9.95 remnibis per ADS for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter were 14.05 billion remnibis, or $2.264 billion; up about 48% from 9.5 billion remnibis last year. Analysts estimated revenues of 14.12 billion remnibis for the quarter.
'Robust mobile performance again drove our strong topline growth this quarter and underpinned the reacceleration of our revenue growth in 2014.' said Jennifer Li, chief financial officer of Baidu.
For the first quarter, the company expects revenues of 12.645 billion remnibis ($2.038 billion) to 13.065 billion remnibis ($2.106 billion). Analysts expect revenues of 13.62 billion remnibis.
Baidu said the guidance reflects the combined impact of both the late timing of Chinese New Year this year and mobile's growing traffic contribution, which monetizes at a rate lower than that of PC. The company expects mobile's monetization rate to trend up throughout the year.
Copyright RTT News/dpa-AFX