Income from online ads boosts Baidu
By Cathy Ding |
April 30, 2010, Friday
|
Print Edition
Print Edition
BAIDU'S net profit for the first quarter more than doubled as income from online advertisements rose, the company said in statement yesterday.
The top Chinese search engine provider saw its net income soar 165 percent from the same period last year to US$70.4 million, the company said in a statement.
"We benefited from Google's semi-exit" from the Chinese mainland, Robin Li, Baidu's CEO and chairman said in a conference call yesterday.
Google Inc stopped operations of its Chinese site, Google.cn, and shifted visitors to its service based in Hong Kong on March 23. Baidu expects "healthy" growth in customers and average spending by clients will continue, Li added.
Baidu's revenue during the first three months this year jumped 59.6 percent to US$189.5 million. It saw a 19.5 percent increase in its number of active online marketing customers from a year ago to around 221,000, according to the company.
The top Chinese search engine provider saw its net income soar 165 percent from the same period last year to US$70.4 million, the company said in a statement.
"We benefited from Google's semi-exit" from the Chinese mainland, Robin Li, Baidu's CEO and chairman said in a conference call yesterday.
Google Inc stopped operations of its Chinese site, Google.cn, and shifted visitors to its service based in Hong Kong on March 23. Baidu expects "healthy" growth in customers and average spending by clients will continue, Li added.
Baidu's revenue during the first three months this year jumped 59.6 percent to US$189.5 million. It saw a 19.5 percent increase in its number of active online marketing customers from a year ago to around 221,000, according to the company.
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