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Baidu profits raise in Q2

The chinese search engine BAIDU is still progression. It reported second quarter earnings of $1.26 per share, and revenues of $859 million, for a net profit hitting US$436 million for the the three months ended June . Both figures exceeded analyst expectations.

We are pleased to announce strong results for the second quarter despite macro headwinds and challenging comparisons with the same period last year,” said Robin Li, chairman and CEO of Baid.

In the coming third quarter, Baidu expects to generate revenue ranging from US$983 million to US$1.01 billion, representing a 49.6 percent to 53.5 percent year-over-year increase.

Baidu accounts now for 78.6% of China’s online search market, putting its streets ahead of the giant rival Google (15.7%),  despite it relocated its search engine to Hong Kong in 2010. The company is also currently focusing on growing into new regions and increasing its presence and monetisation on mobile.

In June, Baidu signed an ad revenue sharing deal with Apple, and is also said to be partnering with Microsoft in a search deal that would go into effect before the end of the year.

 
 
 
Image source:
http://www.siliconrepublic.com/fs/img/news/201107/rs-426×288/baidu-logo2.jpg
http://g.foolcdn.com/img/editorial/templates/BIDU_ERChart1_Q_2012-06-30.png
http://www.chinadaily.com.cn/business/img/attachement/jpg/site1/20120724/0013729e447a117899db0a.jpg
 
 
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One Comment on “Baidu profits raise in Q2”

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