News this week: Earlier this week, Baidu, the market leading Chinese-language Internet search provider, announced its results for the quarter ended 30th June 2011. Revenues were US$528 million, a 78% increase over 2010. Net income was US$253 million, a rise of more than 95% year-on-year. Diluted earnings per share in the period were RMB 4.67 (US$0.72).
The number of active online marketing customers increased by 17% to 298,000 in the second quarter of 2011 and revenue per online marketing customer increased to US$1,779, a rise of 53% over 2010.
Baidu’s management expects revenues in the third quarter to be between US$611 million and US$627 million, an impressive 75% to 80% increase over the corresponding period in 2010.
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