Beijing, 23rd July: China’s leading search engine, the NASDAQ-listed Baidu, has reported second quarter revenues of Rmb1,097.5 million (US$160.7 million). This represents a 36.7% increase from the same period in 2008. Operating profit for the period was Rmb422.8 million (US$61.9 million), a 53.0% increase over 2008.
“Our focus on execution drove another strong quarter for Baidu,” said Robin Li, Baidu’s chairman and CEO. “Our ongoing initiatives to improve user and customer experience further solidified Baidu’s leading market position as both large companies and SMEs are increasingly drawn to the superior ROI offered by Baidu’s P4P platform.” Mr. Li also commented that the recently introduced Baidu Online Marketing Professional Edition, branded as “Phoenix Nest”, while still in its early stages, and is already seeing what he described as “encouraging customer acceptance”. Source: Baidu press release   Courtesy of BSG Hong Kong

BIIA Newsletter September 2009 Issue