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Baidu Says Profits Up 400 Percent engine msg:3253406 3:07 pm on Feb 15, 2007 (gmt 0)
Chinese Web search leader Baidu said on Wednesday quarterly net profits quintupled, but stepped up investments and the impact of a late New Year's holiday season will cut sales growth early in 2007.
Revenue, mostly from online advertising, rose 136 percent to 271.3 million yuan, or $34.8 million, in the fourth quarter, slightly above analysts' average forecast of $34.6 million.
The Beijing-based company, known to investors as "China's Google," expected first-quarter revenue of $34 million to $35 million - growth of 95 percent to 103 percent.
Baidu Says Profits Up 400 Percent [ money.cnn.com]
bill msg:3253928 12:40 am on Feb 16, 2007 (gmt 0)
I read that report on my mobile phone on my way home last night. That's an amazing jump in growth. I think that Baidu have done a good job educating the Chinese market about the benefits of paid advertising. I wonder how long they will be able to keep up this growth trend in the face of competition.