Baidu gains slow
Source: Agencies |
April 27, 2013, Saturday
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Print Edition
Print Edition
BAIDU Inc, which operates China's most popular search engine, reported slower profit growth in its latest quarter yesterday as costs rose sharply. Earnings were up 8.5 percent from a year earlier to 2 billion yuan (US$328.9 million) for the quarter ending on March 31, the Beijing-based company said yesterday. That was down from the previous quarter's 36 percent increase. Revenue was up 40 percent from a year earlier to 6 billion yuan but expenses rose at faster rates. Research and development costs increased 82.9 percent.
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