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Search engine Baidu says profit up 36 percent

Mon, 02/04/2013 - 9:35pm
The Associated Press

Baidu Inc., which operates China's most popular search engine, says its quarterly profit rose 36 percent as an economic rebound helped to boost advertising spending.

Baidu said Tuesday it earned 2.8 billion yuan ($448.7 million), or 7.99 yuan ($1.28) per share. Revenue rose 41.6 percent from a year earlier to 6.3 billion yuan ($1 billion).

For the full year, profit rose 57.5 percent to 10.5 billion yuan ($1.7 billion).

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