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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]