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Baidu more than doubles 2Q profit



5:12 am on Jul 23, 2010 (gmt 0)

WebmasterWorld Administrator bill is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

It helps when your main competitor suddenly quits the market. ;)
Baidu more than doubles 2Q profit [google.com]

Baidu Inc., which operates China's biggest Internet search engine, said Wednesday that its second-quarter profit more than doubled as its advertising customer base grew and profit margins improved.
The company earned 837.4 million yuan ($123.5 million), or 2.40 yuan (35 cents) per American Depositary share, up from 383.3 million yuan, or 1.10 yuan per share, in the same period a year earlier.
Excluding stock options expenses, Baidu earned 36 cents per share.
Revenue rose 74 percent to 1.91 billion yuan ($282.3 million).

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