Baidu Inc., China’s most-used Internet search engine, posted an 87 percent jump in second- quarter profit, beating analysts’ estimates and sending the shares up 13 percent.
Net income increased to 265 million yuan ($38.8 million), or 7.62 yuan per share, from 142 million yuan, or 4.09 yuan, a year earlier, the Beijing-based company said today in a statement. Sales doubled to 802.6 million yuan. The company also forecast sales that may beat analysts’ estimates.
Chief Executive Officer Robin Li added to Baidu’s lead over Google Inc. in China by introducing services such as online games from Shanda Interactive Entertainment Ltd. and anti-virus software from Kingsoft Corp. Baidu has almost two-thirds of the search market in China, the world’s biggest Web market.
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