Baidu

Sell 40%; Holding 40%; Buy 20%

Q1 2016

  • Mobile search monthly active users (MAUs) were 663 million for the month of March 2016, an increase of 9% year-over-year
  • Mobile maps MAUs were 321 million for the month of March 2016, an increase of 19% year-over-year
  •  Gross merchandise value2 (GMV) for Transaction Services totaled RMB16.0 billion ($2.5 billion) for the first quarter of 2016, an increase of 268% year-over-year
  • Baidu Wallet activated accounts reached 65 million at the end of March 2016, an increase of 152% year-over-year
  • Total revenues in the first quarter of 2016 were RMB15.821 billion ($2.454 billion), a 31.2% year-over-year increase, excluding Qunar3 in the first quarter of 2015. Mobile revenue represented 60% of total revenues for the first quarter of 2016, compared to 50% for the corresponding period in 2015.
    Baidu reported total revenues of RMB15.821 billion ($2.454 billion) for the first quarter of 2016, representing a 24.3% increase from the corresponding period in 2015.
  • Operating profit in the first quarter of 2016 was RMB2.211 billion ($342.9 million), a 2.6% increase from the corresponding period in 2015.
  • Transaction Services reduced non-GAAP operating margins by 25.7 percentage points and iQiyi further reduced non-GAAP operating margins by 8.7 percentage points for the first quarter of 2016.
  • Net income attributable to Baidu in the first quarter of 2016 was RMB1.987 billion ($308.1 million), a 18.9% decrease from the corresponding period in 2015. Diluted earnings attributable to Baidu per ADS for the first quarter of 2016 were RMB5.38 ($0.84); non-GAAP net income attributable to Baidu4 in the first quarter of 2016 was RMB2.359 billion ($365.8 million), a 13.9% decrease from the corresponding period in 2015; non-GAAP diluted earnings per ADS5 for the first quarter of 2016 were RMB6.80 ($1.06).

Q4 2015 unusual income: net income 33,334.99 (2015); 13,144.25(2014)

in 2015 Other, Net 24,728.16; net income decrease in 2015

(EPS $5.82; PE 29)

Annual Report 2015

  • The Company exchanged its beneficially owned 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of its majority-owned subsidiary Qunar in exchange for 11,488,381 newly-issued ordinary shares of Ctrip. Subsequent to the transaction, the Company lost control over Qunar and owned 24.39% equity interests in Ctrip when combined with the Ctrip ADS previously acquired in the open market in 2013. The Company recognized a total gain of RMB24.42 billion (US$3.77 billion) from the Ctrip transaction in “Other income, net”
    [Ctrip about $4-5 billion; net cash about $5 billion; ADs 350m; market value $59 billiam; Earning 1.9 billion; EPS 5.77]