Thursday, April 29, 2010

Baidu First-Quarter Net Income Jumped 165 Percent

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China's Internet search leader Baidu’s  first-quarter net income jumped 165 percent.

China's Internet search leader Baidu Inc. said Wednesday that its first-quarter net income jumped 165 percent as revenues and advertising customers grew.baidu-logo

The company also announced a 10-for-1 split for its American depositary shares that will be reflected in share prices as of May 12. The ordinary shares are not changing.

Net income in the three months to March 31 rose to $70.4 million, or $2.02 a share. Revenue grew 60 percent to $189.6 million.

Baidu said it had about 221,000 active online marketing customers, up nearly 20 percent from a year ago but down 1 percent from the previous quarter.

Baidu got a big boost in China last month after Google Inc. shut its mainland-based search engine to move to the Chinese territory of Hong Kong. Google was protesting government censorship of search results.

via: Yahoo ! News

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