Baidu Announces Revised Outlook for Fourth Quarter 2008
Baidu currently expects fourth quarter 2008 revenue to be in the range of
RMB890 million (
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, 2008in The City of New Yorkfor cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.
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
For investor inquiries please contact: In
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Baidu.com, Inc.-0- 12/11/2008/CONTACT: In China: Ms. Linda Sunof Baidu.com, Inc., +86-10-8262-1188, or email@example.com; Or Ms. Cynthia Heof Brunswick Group LLC, +86-10-6566-9504, or firstname.lastname@example.org; Or In the U.S.: Mr. Michael Guerinof Brunswick Group LLC, +1-646-277-3694, or email@example.com / /Photo: http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO PRN Photo Desk, 888-776-6555 or 212-782-2840/ /Web site: http://www.baidu.com / (BIDU) CO: Baidu.com, Inc.ST: ChinaIN: CPR ITE MLM NET SU: ERP MM -- CNTH015 -- 7745 12/11/2008 07:50 ESThttp://www.prnewswire.com