Baidu s net profit increase 123 percent in Q1

Baidu released its earnings report for the first quarter of 2011 on April 28. The report shows that Baidu s total revenue in the first quarter of 2011 stood at more than 2.4 billion yuan (about 372 million U.S. dollars), an increase of more than 88 percent compared with the same period of 2010.
The net profit of Baidu in the first quarter of 2011 stood at nearly 1.1 billion yuan (about 163.5 million U.S. dollars), an increase of 123 percent compared with the same period of 2010.
Most of Baidu's revenue in the first quarter of 2011 comes from Internet marketing revenue, which stood at more than 2.4 billion yuan (about 372 million U.S. dollars), an increase of more than 88 percent compared with the same period of 2010, and the number of Baidu's active Internet consumers stood at about 274,000, a decline of nearly 1 percent compared with the fourth quarter of 2010 and an increase of 24 percent compared with the same period of 2010.
"Negative news brought much impact to Baidu's brand image. However, advertisers value Baidu's market share and its role in enhancing the overall marketing effectiveness even more," experts said.
Data from Analysys International shows that Baidu took nearly 76 percent of the market share in the first quarter of 2011, ranking first in China, followed by Google, which took more than 19 percent. Furthermore, Sogou s market share accounted for nearly 2 percent, while Tencent's Soso accounted for nearly 1 percent, and Youdao had a market share of 0.3 percent.
By People's Daily Online
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