China's leading Internet search engine Baidu reported a better-than-expected operating profit of 422.8 million yuan in the second quarter, representing a 53% increase from the corresponding period in 2008, the company reported in its quarterly statement today.
Total revenue for the quarter rose 36.7 percent year on year to reach 1.097 billion yuan. Earnings per share (EPS) were 11.02 yuan and EPS, excluding share-based compensation expense, amounted to 11.68 yuan.
Online marketing, the biggest revenue contributor for the company, rose by a year-on-year 36.7 percent in the quarter to total 1.096 billion yuan. The company had 203,000 online marketing customers in the second quarter, up 12.2 percent from a year earlier.
The company forecasts its revenue to grow 15 to 18 percent in the third quarter from Q2.
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(China.org.cn July 24, 2009)