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More on Baidu: Revenue/ad customer rose 11% Q/Q and 3.9% Y/Y to $2,623, after falling two...

Jul. 24, 2013 5:16 PM ETBaidu, Inc. (BIDU) StockBIDUBy: Eric Jhonsa, SA News Editor

More on Baidu: Revenue/ad customer rose 11% Q/Q and 3.9% Y/Y in Q2 to $2,623, after falling two quarters in a row and raising mobile and competition concerns. The growth came even though active ad customers rose 14.1% Q/Q and 33% Y/Y to 468K. Traffic acquisition costs rose to 11.6% of revenue from 10.2% in Q1 and 8.3% a year ago; Baidu attributes this to higher display ad network (contextual ad) sales and promotions for its hao123 directory site. SG&A spend +83.5% Y/Y to $175.7M, and R&D spend +72.6% to $153.4M; both remain well above rev. growth (38.6%). Mobile surpassed 10% of revenue for the first time. BIDU +13.2% AH, CC at 8PM ET (webcast). (PR)

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