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Baidu currently expects fourth quarter 2008 revenue to be in the range of
The company noted that several factors contributed to the guidance
revision. First, the economic slowdown in
"As on-line marketing customers adjust to the current difficult economic
environment, we believe they will increasingly realize the value of paid
Internet search as a very powerful performance based model," said
Currently, the company is testing a new on-line marketing system to enhance monetization which is expected to improve customer ROI as well as user experience. In addition, Baidu is in the process of developing a new sales support system which is designed to improve sales productivity as well as customer service.
(1) This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 6.7899 to USD 1.00, the effective noon buying rate as of September 30, 2008 in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.
About Baidu
Baidu.com, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol "BIDU."
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Statements that are not historical facts, including statements
about Baidu's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties that could
cause actual results to differ materially from those contained in any forward-
looking statements. Further information regarding these and other risks is
included in our annual report on Form 20-F and other documents filed with the
Securities and Exchange Commission. All information provided in this press
release is as of
For investor inquiries please contact: In China: Ms. Linda Sun Baidu.com, Inc. Tel: +86-10-8262-1188 Email: ir@baidu.com Ms. Cynthia He Brunswick Group LLC Tel: +86-10-6566-9504 Email: baidu@brunswickgroup.com In the U.S.: Mr. Michael Guerin Brunswick Group LLC Tel: +1-646-277-3694 Email: mguerin@brunswickgroup.com
SOURCE Baidu.com, Inc.