Baidu Q1 Profits Jump 165pct

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Baidu Q1 Profits Jump 165pct [theglobeandmail.com]

Baidu Inc., which operates China's most popular Internet search engine, said yesterday its first-quarter profit jumped 165 per cent on a rise in revenue and numbers of advertising customers.

Net income in the three months to March 31 rose to $70.4 million (U.S.), or $2.02 a share, the Beijing-based company said. Revenue grew 60 per cent to $189.6 million.

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Google's departure from China may open the door for other homegrown services to step into the gap. Surely Baidu is not the only beneficiary of this.