Chinese search engine Baidu (NSDQ: BIDU) reported its Q2 results today, and its profits came in at 265 million yuan, or $38.6 million, versus 141.9 million yuan ($20.7 million) a year earlier, beating the average expectation of $35.5 million from analysts. Revenues doubled to 802.6 million yuan ($117.5 million) from 401.3 million yuan ($58.8 million) a year earlier, a 100 percent increase. The company expects another uptick in Q3 on account of increased Olympics traffic.
IDG: Although all of Baidu’s revenues come from its China operations, CEO Li said “Our Japan operation is progressing well,” and that the company spent 30 million yuan there during the quarter. He said that Baidu will “open a research and development center in Shanghai later this year to serve Japan-related search applications.” Release here.
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