Baidu Q1 profit soars by 76 percent

The Chinese search giant's revenue increased by 75 percent year over year for the quarter

Baidu, China's largest search engine, saw its first-quarter net profit increase by 75.9 percent year over year, mainly on account of an increase in its small and medium enterprise customers.

For the quarter ended March 31, Baidu's profit reached 1.88 billion yuan (US$299 million), up from 1.07 billion yuan in the same quarter last year. The search giant's revenue for the quarter rose by 75 percent from last year, to 4.26 billion yuan.

Baidu's active online marketing customers reached 321,000 for the quarter, up 17.2 percent from a year earlier. The company projects total revenues for the second quarter will increase in the range of 56.2 percent to 59.9 percent year over year.

Baidu, which generates revenue from selling ads, has dominated China's search market with about 80 percent share of the market, according to analytics website CNZZ.com. The company has regularly posted strong earnings, with profits sometimes doubling.

Last week, however, Baidu saw a setback in its e-commerce ambitions. Japanese e-commerce giant Rakuten announced it would close an online shopping mall site it operated with Baidu, citing a failure to meet expectations and increased competition from rivals.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Michael Kan

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Cate Bacon

Aruba Instant On AP11D

The strength of the Aruba Instant On AP11D is that the design and feature set support the modern, flexible, and mobile way of working.

Dr Prabigya Shiwakoti

Aruba Instant On AP11D

Aruba backs the AP11D up with a two-year warranty and 24/7 phone support.

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?