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Baidu Forecasts Return to Sales Growth [pcworld.com]Baidu's revenue in the first quarter was 810.7 million yuan (US$118.8 million), a rise of 41 percent from a year earlier but a fall from sales of 902.1 million yuan in the final quarter of last year, Baidu said. The revenue figure beat Baidu's own forecast for the quarter.
The firm expects a return to growth in the second quarter with sales of as much as 1.1 billion yuan as it continues to increase spending on marketing, Li said.
Baidu's shares, up over 75 percent this year, rose 3.4 percent to $232.60 in after-hours trading on the Nasdaq Stock Exchange. The firm announced its results after the market closed on Monday in the U.S.
