Chinese Search Engine Baidu Makes $2.6 Billion In Revenue
Most people, if asked about the top 3 search engines might say Google, Yahoo and Bing. But there’s another one that is off the radar slightly and in real terms, deserves to be mentioned even ahead of Bing. I am talking about Baidu, the search engine used mainly in China and who has quietly been making a lot of money.
According to earning reports, Baidu posted a whopping $654.7 million in revenue for the third quarter of 2011. This is an 85.1% increase over the corresponding quarter of 2010. The search giant also posted strong net income numbers, with the third quarter coming in at $295 million—up a massive 80% on 2010 figures.
Baidu outdid investor expectations, and according to chairman and CEO, the search engine had stellar numbers thanks in large part to “rapid growth in customer spending and user traffic”. Mr Li pointed out too that Baidu has been building strong relationships with big user companies and expects its growth to continue as the search market matures in China.
So far, the company has been very busy recruiting and attracting marketing customers and according to figure posted for 2011, 304,000 new customers were added in Q3 2011, an increase of 11.8% over the corresponding quarter in 2010. With these solid numbers across all departments, one can only expect good things from Baidu in the last quarter and opening months of 2012. Who knows, Baidu may even officially overtake one of the big three.
Do you think as internet penetration increases in China Baidu will leap-frog Yahoo as a pre-eminent search engine? Let us know your thoughts and predictions in the comments below.