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derek2000

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derek2000

Re: None

Wednesday, 07/21/2010 11:14:36 PM

Wednesday, July 21, 2010 11:14:36 PM

Post# of 94785
Baidu profit doubles in record quarter

While Google struggles with the Chinese market, local search giant Baidu is soaring to new heights. Baidu said Wednesday that its earnings doubled in the most recent quarter as its sales hit a record high.

Baidu reported net income of 837.4 million yuan ($123.6 million) for the quarter ended June 30, up 119% from a year earlier. Sales rose 74% to 1.9 billion yuan ($282.3 million).

Investors are taking note: Baidu now has a market capitalization of $25.5 billion -- comfortably ahead of Yahoo (YHOO, Fortune 500) and edging close to eBay (EBAY, Fortune 500).

http://money.cnn.com/2010/07/21/technology/baidu_earnings/index.htm?source=yahoo_quote
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