Baidu's First-Quarter Profit Soared 165% on Google Exit
Baidu's First-Quarter Profit Soared 165% on Google Exit
Posted 04/28/2010 at 4:39pm
| by Pulkit Chandna
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Google’s face-off with Chinese authorities and subsequent exit from that country left local search provider Baidu with virtually no competition. In fact, Google’s exit couldn’t have come at a better time for China’s top online search provider, which was beginning to face some stiff resistance Google.
Baidu just posted its first quarter results and they seem to suggest that it is doing a good job of devouring around 40 percent of the market that had Google written all over it until not a long ago. Compared to the same period last year, its net income shot up by 165% to $70.4 million during the first quarter. Revenues also witnessed a year-over-year increase of 59.6 percent to reach $189.6 million.
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Eva Grainy
April 13, 2011 at 2:17am
It is more than obvious how censorship conquers the Chinese online area. It is so awkward to be in those people`s shoes and realize that everything they do online is supervised and restrained to some well established borders. You can`t install a program on your computer without having a superior entity checking out your account details, each and every dll file extension installed on your PC, each and every move you make. Mustn`t be quite pleasant.
mesiah
April 28, 2010 at 8:52pm
I seem to remember a story similar to this. Except instead of google pulling out of china, a huge storm wiped out all the shrimping boats. And thats how the Bubba Gump Shrimp company made its rise to power :D
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