HOME   NEWS   SPECIAL REPORT   PHOTO   COMMENTARY   VOICE   LEARNING CHINESE
NEWS > Technology
China's Baidu.com says 2Q profits, sales more than double
2007-07-26 03:14:17 THE ASSOCIATED PRESS

BEIJING, July 26 (AP) -- China's leading search engine Baidu.com Inc. said Thursday its second-quarter profit and revenue more than doubled, and its shares jumped nearly 20 percent in U.S. trading.

Baidu earned 141.9 million yuan (US$18.8 million; £á13.7), up from 58.5 million yuan in the year-earlier period, the company said. Revenue jumped to 401.3 million yuan (US$52.7 million; £á38.7 million) from 189.1 million yuan a year ago.

The results easily surpassing Wall Street expectations. Analysts polled by Thomson Financial were expecting earnings of 43 U.S. cents (31 euro cents) per share on revenue of US$49.3 million (£á35.9 million).

"During the second quarter, we saw robust revenue growth and a healthy increase in online marketing customers," Chairman and Chief Executive Robin Li said in a statement.

The Beijing-based company's American Depositary shares jumped US$35.77 (£á26.06), or 19.5 percent, to US$219 (£á159) in after-hours trading. The stock had closed up US$8.19 (£á5.97), or 4.7 percent, at US$183.23 (£á133.50) in the regular session.

MORE NEWS
Apple sees less-than-expected iPhone activation numbers  
MySpace deletes 29,000 sex offenders  
UFO spotted above Hunan  
Google turns its sight on building mobile-phone network  
Warning: New virus to bite computers  
Pilot's UFO report released after 16 years  
NASA: Sun may have reached solar minimum  
First China-made A319 wing box delivered to Airbus  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reports¡Aor find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996-SINA Corporation, All Rights Reserved