Baidu Inc. is growing strong, and reports a 77% profit growth in the fourth quarter of 2011, compared to the same period in 2010.
Baidu, which runs China’s most popular search engine, reports a Q4 2011 profit of 2 billion yuan (US$ 326.3 million), or 6 yuan per share (US$ 0.95). Meanwhile, revenue has risen in this period to 4.5 billion yuan (US$ 710.9 million), up 82.5% from Q4 2010.
Baidu’s full-year profit is up 88.3% over 2010 figures, at 6.6 billion yuan (US$ 1 billion).
The company credits the revenue and profit growth to a growing market. The Chinese search giant dominates the region, with 78.3% of the market here, as per Beijing-based research firm Analysis International. Google comes in a close second at 16.7%, while the rest comprise Tencent Soso, Sogou and other competitors.
According to Baidu, revenue per customer grew 61.8% to 14,400 yuan (US$ 2,288) during this period. Its active online marketing customer base has risen to 311,000 or 12.7% over the previous year.
China is a growing market for desktop and mobile internet users, and has breached the 500 million user mark, with more than 513 million online users, according to the China Internet Network Information Center.
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