Years before China topped the list of the world’s largest Internet populations, Baidu co-founder Robin Li set a foundation that would let his company rise alongside the Web boom. Even when Baidu (BIDU) debuted in the U.S. stock market in 2005, five years after the search engine’s founding, just 8% of China’s population regularly logged onto the Web. That was vs. 70% penetration in America. But CEO Li from the start emphasized that
Chinese search engine Baidu’s daily mobile-search user numbers jumped 23% in the six months ended March 31, a sign that the company’s strategy to invest heavily in mobile is paying off, their CEO says. About 160 million users searched the Web each day via the mobile search engine from Baidu (BIDU) in Q1, up from 130 million six months prior, Baidu CEO Robin Li told analysts in a conference call late Thursday. “It is growing quickly. It is not
China’s search leader Baidu posted a surprise EPS jump in Q1, as the company decelerated its R&D spending. Beijing-based Baidu (BIDU) late Thursday reported earnings per share minus items of $1.24, up 22% from $1.01 in the year-earlier quarter and well above the 95 cents analysts expected. Sales rose 59% to $1.53 billion, just shy of the consensus of $1.54 billion by analysts polled by Thomson Reuters. Baidu forecast current-quarter sales of