Chinese search leader sees dramatic ad growth.
Chinese language search provider Baidu saw its revenues jump 78.4 percent in the second quarter of this year, compared with the same period in 2010, and attributed that growth to increasing demand for its advertising products.
The Google competitor took a total of RMB3.15 billion ($528.4 million) in the three months ending June 30, and reported a lift in profit of 91.2 percent, year-over-year, to reach RMB1.858 billion ($287.5 million).
Baidu currently dominates the Chinese search market, accounting for around 60 percent of queries, according to research firm Analysys International. Google, meanwhile, attracts an estimated 30 percent of searches in the market.
In a statement, Robin Li, Baidu chairman and CEO, said the company's performance was aided by significant traffic growth and an improved ability to monetize its assets. "We were especially encouraged with the strong spending from large customers," Li added.
Baidu's impressive sales numbers demonstrate the opportunity for media and technology companies in China, driven by a growing Internet user base and massive population.
In recognition of the opportunity in the search space, Microsoft announced a partnership with Baidu earlier this month that will see its Bing search product power all English-language results on Baidu.com. Commenting on the deal, Baidu Asst. CEO Zhang Dongchen said the company currently responds to millions of English search queries on a daily basis.
Want to learn more?
Attend ClickZ Live New York March 30 - April 1. With over 15 years' experience delivering industry-leading events, ClickZ Live brings together over 60 expert speakers to offer an action-packed, educationally-focused agenda covering all aspects of digital marketing. Register today!
Jack Marshall was a staff writer and stats editor for ClickZ News from 2007 until August 2011.
Hong Kong, May 5-6, 2015
A Buyer's Guide to Affiliate Management Software
Manage your performance marketing with the right solution. Choose a platform that will mutually empower advertisers and media partners!
Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.
May 6, 2015
12:00pm ET/9:00am PT