Baidu profit surges 77% in 4th quarter
By Ding Yining |
February 18, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S largest search engine site Baidu yesterday said profit in the fourth quarter of last year surged 77 percent to 2.05 billion yuan (US$326.3 million) as advertisers increased online marketing spending.
Baidu, which has about 73 percent share of China's search engine market, said in a stock exchange filing that revenue in the three months ended on December 31 jumped 83 percent to 4.47 billion yuan.
Robin Li, chief executive officer of Baidu, said at a conference call after the earnings release 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 been spending heavily on new products and services to tap the strong need of users who are more accustomed to using their mobiles to search for information and communicate with friends.
Li said Baidu won't make money from mobile products and services in the next three to five years and will focus more on the users' side rather than monetization efforts.
For the full-year 2011, the company earned 6.64 billion yuan, an 88 percent annual increase, and revenue jumped 83 percent to 14.5 billion yuan.
Baidu, which has about 73 percent share of China's search engine market, said in a stock exchange filing that revenue in the three months ended on December 31 jumped 83 percent to 4.47 billion yuan.
Robin Li, chief executive officer of Baidu, said at a conference call after the earnings release 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 been spending heavily on new products and services to tap the strong need of users who are more accustomed to using their mobiles to search for information and communicate with friends.
Li said Baidu won't make money from mobile products and services in the next three to five years and will focus more on the users' side rather than monetization efforts.
For the full-year 2011, the company earned 6.64 billion yuan, an 88 percent annual increase, and revenue jumped 83 percent to 14.5 billion yuan.
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