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Baidu gains on Google in crucial China market

2:39 am on Oct 22, 2010 (gmt 0)

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Baidu gains on Google in crucial China market [news.yahoo.com]

Baidu Inc's results and revenue forecast beat quarterly expectations after the company increased its Web traffic and customers at the expense of rival Google Inc, which is pulling out of the world's largest Internet market.

Baidu, which has grabbed market share from Google since the latter's high-profile falling-out with Beijing this year, commands more than 70 percent of China's search market and is aggressively seeking other revenue streams by diversifying into e-commerce and online video.

Analysts also credited the stabilization of Baidu's advertising keyword system for the uptick in paid click volumes and increased customers.
They beat estimates? I'd say the people who estimated did some underestimation to make this look more dramatic.