Baidu Profit Up 77 Percent On Customer Growth


Salon Staff
February 17, 2012 8:54AM (UTC)

BEIJING (AP) — Baidu Inc., which operates China's most popular search engine, said Friday its latest quarterly profit rose 77 percent over a year earlier as customer numbers and spending per customer rose.

Profit for the three months ended Dec. 31 was 2 billion yuan ($326.3 million), or 6 yuan (95 U.S. cents) per share, the Beijing-based company said. Revenue rose 82.5 percent to 4.5 billion yuan ($710.9 million).

Advertisement:

For the full year, Baidu said its profit rose 88.3 percent over 2010 to 6.6 billion yuan ($1 billion).

China has the world's biggest population of Internet users, with more than 513 million people online as of December, according to a government-sanctioned industry group, the China Internet Network Information Center.

Baidu has a 78.3 percent share of China's search engine market, according to Analysys International, a research firm in Beijing. Google Inc. was in second place with 16.7 percent, while Sogou, Tencent Soso and other competitors had less than 3 percent each.

Baidu said its number of active online marketing customers rose 12.7 percent over a year earlier to 311,000. Revenue per customer rose 61.8 percent to 14,400 yuan ($2,288).

___

Baidu, Inc.: www.baidu.com


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •