Operating profit reached RMB 2.297 billion (approximately USD 365 million), representing an increase of 80.2% compared to the same period last year. Excluding share-based compensation expenses, operating profit was RMB 2.344 billion (approximately USD 372 million), reflecting a rise of 79.9% from the same period last year. Income tax expense was RMB 404.5 million (approximately USD 64.3 million) compared to RMB 159.6 million during the same period last year. The effective tax rate for the fourth quarter was 16.5%, compared to 12.1% in the same period last year. The year-over-year increase in the effective tax rate was mainly due to the expiration of tax preferential policies applicable to Baidu’s subsidiaries in China. Net profit amounted to RMB 2.054 billion, marking an increase of 76.9% compared to the same period last year.
Net profit was RMB 2.054 billion (approximately USD 326.3 million), showing an increase of 76.9% compared to the same period last year. Basic earnings per share were RMB 5.88 (approximately USD 0.93), or diluted earnings per share of RMB 5.87 (approximately USD 0.93).
Excluding share-based compensation expenses (non-GAAP measure), net profit was RMB 2.1 billion (approximately USD 333.7 million), indicating an increase of 76.7% compared to the same period last year. Excluding share-based compensation expenses, basic earnings per share were RMB 6.02 (approximately USD 0.96), or diluted earnings per share of RMB 6.01 (approximately USD 0.95).