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Baidu revenue rises 58.5%, profit jumps 34.1%
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CHINA'S largest search engine operator Baidu said its mobile income contributed 30 percent to its revenue in the second quarter.
Nasdaq-listed Baidu said in a stock exchange filing today that revenue increased 58.5 percent from a year ago to 11.99 billion yuan in the three months ended on June 30. Profit in the second quarter increased 34.1 percent to 3.55 billion yuan (US$573.1 million).
Online advertising sales jumped 57 percent from the same period last year to 11.84 billion yuan and the number of online advertisers reached 490,000, the company said in a stock exchange filing.
In April, Baidu launched its mobile payment platform, Baidu Wallet, to keep pace with Internet giants like Alibaba and Tencent.
In May, it set up an artificial intelligence laboratory in Silicon Valley to boost its research and catch up with companies like Google and Apple.
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