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| Baidu's Net Profit Reaches 85.5m Yuan in First Quarter |
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Nasdaq-listed Chinese Internet search giant Baidu.com, Inc. announced yesterday in a report that it achieved a net profit of 85.5 million yuan (about US$11 million) in the first quarter of 2007, up 142.6 percent over the same period last year. Sales revenue of the company totaled 275.6 million yuan, an increase of 103.3 percent year on year. Sales revenue rise resulted from Baidu's online marketing revenues, which amounted to 274.7 million yuan during the period, up 108 percent year on year. The growth was chiefly driven by the increasing number of Baidu's active online marketers. In the first quarter of 2007, Baidu had more than 112,000 active online marketing customers, up 3.7 percent quarter on quarter. Baidu predicts its sales revenue will reach between 378 million and 388 million yuan in the second quarter, for an increase of between 97 and 103 percent year on year. (Xinhua News Agency April 29, 2007) |
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