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Last Updated: Thursday, 15 February 2007, 07:37 GMT
Adverts help Baidu profits surge
Offices of Baidu.com
Baidu has gained market dominance in China
Chinese internet search engine Baidu has seen its quarterly net profits grow five-fold thanks to new users and online advertising customers.

Labelled by some as "China's Google", Baidu made 122.8m yuan ($15.7m; 8m) in the last three months of 2006, up from 24.5m yuan a year earlier.

This took net profits for 2006 as a whole to 301.8m yuan.

The firm, which boasts a 62% share of the Chinese market, announced last year that it was to expand into Japan.

It said its strength in non-English language searches and similarities between Chinese and Japanese made Japan an "ideal" next step for expansion.

Looking ahead, Baidu said it expected sales to fall slightly below market forecasts in the first quarter of 2007.

After the US, China ranks second in terms of internet market size with more than 100 million users.

Baidu said it saw a 5.9% rise in the number of advertisers from the previous quarter to 108,000.




SEE ALSO
China's Baidu to target Japanese
04 Dec 06 |  Business
Google offloads Baidu investment
23 Jun 06 |  Business
Baidu jumps after strong earnings
22 Feb 06 |  Business
Google defends China search site
21 Feb 06 |  Technology
Net firms criticised over China
15 Feb 06 |  Technology
China defends internet regulation
15 Feb 06 |  Asia-Pacific

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