Strong Online Advertising Lifts Results

23 February 2006

    BEIJING - China's most popular internet search service, reported a near fourfold increase in full-year net income as online advertising continues to grow strongly in the country.
    Nasdaq-listed Baidu earned Yuan 47.6m ($5.91m; €4.97m; £3.39m) in net profit last year, compared with Yuan 12m in 2004, on total revenue of Rmb319.2m. Sales reached Yuan 114.9m in the last three months, up 167.7 per cent from the corresponding period in 2004.
    "We've been very proud of the progress we've made in a short time," boasted ceo Robin Li.