Baidu Profits Increase during Fourth Quarter

By

Fourth-quarter profits at Baidu.com more than tripled, according to a report from the Associated Press. Baidu operates China's leading search engine, and has been described as the Google of China.

The company's profit increased to $175.9 million for the fourth quarter.

During the quarter, Baidu earned 52 cents a share. Analysts had projected the company earning 47 cents per share during the quarter, the AP reported, citing analysts’ data.

"This has been another quarter of outstanding performance for Baidu, with market momentum and our continued improvement in monetization fuelling top line growth," Robin Li, Baidu's chairman and CEO, said in a company press release.

Quarterly revenue increased to 2.45 billion yuan (U.S. $371.3 million) from 1.26 billion yuan. Analysts had previously projected revenue increases of $350.3 million.

For 2010, Baidu earned 3.53 billion yuan (U.S. $534.1 million). That compares with a profit of 1.49 billion yuan in 2009. Company revenue increased to 7.92 billion yuan (U.S.$1.2 billion) from 4.45 billion yuan in 2009.

During the first quarter of 2011, Baidu projects revenue between $360.6 million and $371.2 million.

"Baidu continues to build upon our clear leadership in China's search market," Li added. "Looking forward we will further integrate search with online activities such as e-commerce and social networking and I am confident that Baidu will remain at the center of China's Internet ecosystem."

"I am pleased to report another quarter of stellar top- and bottom-line growth," Jennifer Li, Baidu's chief financial officer, added in a statement. "I'm also excited to note that in 2010 we enjoyed accelerating top-line growth and record profitability despite substantial investment. As we remain focused on developing the market and driving top-line growth, we will continue to aggressively invest in R&D, sales, marketing and network infrastructure."

As of September, 73 percent of China’s Web searches used Baidu. The AP says that by comparison Google was used for 22 percent of Web searches in China.

In other recent company news, TechZone360 reported that Baidu would introduce a flash game platform.

Want to learn more about the latest in communications & technology? Then be sure to attend ITEXPO East 2011, taking place Feb 2-4, 2011, in Miami. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.


Ed Silverstein is a TechZone360 contributor. To read more of his articles, please visit his columnist page.

Edited by Tammy Wolf

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Coding and Invention Made Fun

By: Special Guest    10/12/2018

SAM is a series of kits that integrates hardware and software with the Internet. Combining wireless building blocks composed of sensors and actors con…

Read More

Facebook Marketplace Now Leverages AI

By: Paula Bernier    10/3/2018

Artificial intelligence is changing the way businesses interact with customers. Facebook's announcement this week is just another example of how this …

Read More

Oct. 17 Webinar to Address Apache Spark Benefits, Tools

By: Paula Bernier    10/2/2018

In the upcoming webinar "Apache Spark: The New Enterprise Backbone for ETL, Batch and Real-time Streaming," industry experts will offer details on clo…

Read More

It's Black and White: Cybercriminals Are Spending 10x More Than Enterprises to Control, Disrupt and Steal

By: Cynthia S. Artin    9/26/2018

In a stunning new report by Carbon Black, "Hacking, Escalating Attacks and The Role of Threat Hunting" the company revealed that 92% of UK companies s…

Read More

6 Challenges of 5G, and the 9 Pillars of Assurance Strategy

By: Special Guest    9/17/2018

To make 5G possible, everything will change. The 5G network will involve new antennas and chipsets, new architectures, new KPIs, new vendors, cloud di…

Read More