Baidu, the country's biggest internet search engine, expects its new online market platform to help boost revenue this quarter as more advertisers migrate to the new system.
It said yesterday net profit for the three months to June rose a better than expected 44.6 per cent to 383.3 million yuan (HK$434.85 million), with revenue up 36.7 per cent to 1.1 billion yuan.
Baidu forecast revenue this quarter would grow 15 to 18 per cent to between 1.26 billion yuan and 1.29 billion yuan. The guidance is above market consensus of 1.21 billion yuan.
Baidu chairman and chief executive Robin Li Yanhong said the firm was comfortable it would achieve growth in revenue this quarter.
'There will be more growth opportunities, given the improving economic sentiment,' Mr Li (below) said, adding that the company is pushing the new online marketing professional service called Phoenix Nest to lure more advertisers.
Baidu chief financial officer Jennifer Li said the company would increase staff this quarter to boost the sales team for Phoenix Nest as well as its research and development team.
