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Baidu's Q3 net income jumps 112% to $156 million
By Ding Yining |
October 22, 2010, Friday
|
Online Edition
Online Edition
BAIDU'S 3rd-quarter profit more than doubled from a year ago with an expanding customer base as it consolidates its leading position in China's search engine market.
"We continue to improve our online marketing system and customer engagement while building awareness of search engine marketing," Robin Li, chairman and chief executive officer of Baidu, said in a statement today.
Baidu's net income in the third quarter jumped 112 percent year on year to US$156.4 million, or US$0.45 per share.
Its Phoenix Nest advertising system will continue to be the main growth driver next year and the company will work for gradual improvements to attract more users, Li told an analyst conference this morning.
Baidu had about 272,000 active online marketing customers in the third quarter of 2010, representing a 25.9% increase from the same period last year.
Google China's market share in the third quarter fell to 24.6 percent, the lowest level since 2007 while Baidu consolidated its leading position in China with a 72.9 percent market share, the world's largest Internet user base, iResearch said in a recent report.
Baidu is also seeking additional revenue streams including online video and e-commerce.
The company's revenue jumped 80 percent to US$337.2 million in the quarter and may reach anywhere between US$354.2 million and US$364.7 million in the fourth quarter.
"We continue to improve our online marketing system and customer engagement while building awareness of search engine marketing," Robin Li, chairman and chief executive officer of Baidu, said in a statement today.
Baidu's net income in the third quarter jumped 112 percent year on year to US$156.4 million, or US$0.45 per share.
Its Phoenix Nest advertising system will continue to be the main growth driver next year and the company will work for gradual improvements to attract more users, Li told an analyst conference this morning.
Baidu had about 272,000 active online marketing customers in the third quarter of 2010, representing a 25.9% increase from the same period last year.
Google China's market share in the third quarter fell to 24.6 percent, the lowest level since 2007 while Baidu consolidated its leading position in China with a 72.9 percent market share, the world's largest Internet user base, iResearch said in a recent report.
Baidu is also seeking additional revenue streams including online video and e-commerce.
The company's revenue jumped 80 percent to US$337.2 million in the quarter and may reach anywhere between US$354.2 million and US$364.7 million in the fourth quarter.
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