Baidu profit up 60 percent, revenue growth slows
Chinese search engine operator Baidu Inc. says its latest quarterly profit rose 60 percent but revenue growth slowed as the economy cooled.
The Beijing-based company said Tuesday that profit for the three months ending Sept. 30 was $478.6 million (3 billion yuan). Revenue rose 49.7 percent to $994.6 million (6.3 billion yuan) but that growth was down from the previous quarter's 60 percent.
Baidu has about 78.6 percent of China's Internet search market, ahead of No. 2 Google Inc. with 15.4 percent, according to Analysys International, a research firm in Beijing.