Chinese search engine Baidu has posted first quarter profits of 480.5 million yuan (£46m), representing a rise of 165 percent year-over-year. The company’s increase in market share in the region follows Google’s withdrawl from operations in mainland China. Google refused to comply with the Chinese government’s requests to censor searches in the region. Baidu’s revenue […]
Chinese search engine Baidu has posted first quarter profits of 480.5 million yuan (£46m), representing a rise of 165 percent year-over-year. The company’s increase in market share in the region follows Google’s withdrawl from operations in mainland China. Google refused to comply with the Chinese government’s requests to censor searches in the region. Baidu’s revenue and net income was also up. Net income rose to $70.5 million and revenue grew 60 percent to $189.6 million.
Baidu revealed that it had 221,000 active online marketing customers, up 20 percent year-over-year. Average revenue per marketing customer was $864 – up 34 percent from Q1 2009 and 3.5 percent from the previous quarter. Baidu expects revenue to increase to $274 million, up to 70 percent, in the second quarter. A recent survey conducted by iResearch found that Google and Baidu held the majority of the Chinese search market, accounting for 94.9 percent of the search requests.
4/5/2010
