Chinese Search Engine Baidu Exceeds Expectations
July 26, 2007 – 3:55 pmIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The Chinese Search Engine Baidu (BIDU) is on the up and up on this day.
Shares in the search engine surged on Thursday when they announced that they exceeded analysts expectations for the second quarter. They reported that their profit went to 141.9 million yuan ($18.8 million) from 58.5 million yuan for the same period last year.
Analysts expected a .43 cent profit per share on the stock and instead Baidu posted a .54 cent profit per share.
Baidu’s biggest rival is American based search engine Google, who is trying to make a dent in the Chinese search market.
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