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Baidu Q4 profit jumps 77% to 2 billion yuan
By Ding Yining |
February 17, 2012, Friday
|
Online Edition
Online Edition
CHINA'S largest search engine Baidu said its fourth quarter profit surged 77 percent to 2.05 billion yuan (US$326.3 million) last year, fueled by more ads.
Baidu, with a 73 percent share of China's search market, said revenue in the last three months of 2011 jumped 83 percent to 4.47 billion yuan.
Robin Li, chief executive officer of Baidu, said after the earnings report was released that the company will continue to upgrade its service and technology in the mobile Internet sector.
Other big players, including Tencent Holdings and Alibaba Group, have invested heavily in new products and services to meet the needs of users more accustomed to search for information and communicate with friends over mobile phones.
Li said Baidu won't make money from its mobile products and services in the next three to five years and will concentrate more on improving user experience rather than on monetizing its products.
He said Baidu is now available on 80 percent of branded mobile phones in China.
In the fourth quarter, Baidu had about 311,000 active online advertisers and their average spending surged 61.8 percent to 14,400 yuan.
Baidu's total revenue in 2012 jumped 83 percent to 14.5 billion yuan.
Baidu, with a 73 percent share of China's search market, said revenue in the last three months of 2011 jumped 83 percent to 4.47 billion yuan.
Robin Li, chief executive officer of Baidu, said after the earnings report was released that the company will continue to upgrade its service and technology in the mobile Internet sector.
Other big players, including Tencent Holdings and Alibaba Group, have invested heavily in new products and services to meet the needs of users more accustomed to search for information and communicate with friends over mobile phones.
Li said Baidu won't make money from its mobile products and services in the next three to five years and will concentrate more on improving user experience rather than on monetizing its products.
He said Baidu is now available on 80 percent of branded mobile phones in China.
In the fourth quarter, Baidu had about 311,000 active online advertisers and their average spending surged 61.8 percent to 14,400 yuan.
Baidu's total revenue in 2012 jumped 83 percent to 14.5 billion yuan.
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