Baidu Says Profits Up 400 Percent

[engine]

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]

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.