China’s Baidu Increased Quarterly Profit by 95 Percent

By on Jul 26, 2011 in Asia, Business Comments

BAIDU LOGO Baidu, Inc. Corporate Logo

BEIJING  — Baidu Inc. recently announced through a press release on their website that they had an increase of net income by 95 percent compared to the corresponding period in 2010.

The press release further says that Baidu’s profit for the three months ending June 30 is $252.6 million, which is equivalent to 72 cents per share.

According to Baidu’s chairman and CEO, Robin Li, the company benefited from the strong traffic growth and improved monetization. The company said they expect stronger growth and increase in total revenue for the July-September quarter.

On the other hand, reported that Analysys International, a research firm in Beijing, released its findings about the current search market in China. The finding shows that Baidu dominated the search engine market by 75.9% market share by operating revenue in the second quarter of 2011, followed by Google China with 18.9%,

China is reportedly known to be blocking access to material deemed subversive or pornographic. Last week, Baidu announced an agreement with three global recording labels to distribute music online in China.

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