The withdrawal of Google from China has given to his former rival a happy feeling. Indeed Baidu the number one search engine in China has announced an titanic increase of its figures in the first quarter of 2010. Its turnover has increased of 60% reaching 190 million dollars. But most impressive is the profit which has soared by 165% to reach 70.4 million.
These exceptional results is mainly due to the increase of advertising clients, they are 20% more than a year ago, but also due to the departure of Google.cn to Hong Kong. According to Robin Li, Baidu’s CEO, he expects an increase of 75% in the next quarter, reaching about 270 million dollars.
Well I’m just gonna call the bank to buy shares in Baidu’s stock. I hope it will also increased by 3 digits!