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Chinese Internet search giant Baidu Inc. on July 24 reported higher-than-expected second-quarter revenue, boosted by small and medium-sized advertisers. Baidu had 5.46 billion yuan ($855 million) in revenue in the second quarter, up nearly 60 percent year on year.
The company also said it is likely to go ahead with more acquisitions to beef up its presence in emerging sectors, such as mobile Internet.
Baidu launched a promotion campaign in about 100 Chinese cities in the second quarter in a bid to lure more small and medium-sized advertisers.
The company had about 352,000 active online advertisers in the second quarter, a 9.7-percent increase from the previous quarter. Its Web-based advertising service generated almost the entirety of its revenue.
Baidu accounted for more than 78 percent of China’s search-engine market by revenue, compared with 15.7 percent for Google, according to Analysys International.
Profit Up
Great Wall Motor Co., China’s largest sport utility vehicle (SUV) producer, announced on July 25 that its first-half profit will jump 30.29 percent year on year.
Net profits in the first six months hit 2.36 billion yuan ($369.6 million).
The company’s sales maintained double digit growth in the first half although China’s auto market slumped because of the slowing economy, the removal of subsidies and tighter rules on new car registration.
The automaker’s sales grew 17 percent from one year earlier to 279,300 units in the first half.
The company’s Haval series was one of the most-purchased SUVs in China in the first six months, with sales surging 41 percent year on year to 110,000 units.
Great Wall C30 was also a best-selling model due to its competitive prices. Its sales reached 68,000 units in the first half.
The company also said it is likely to go ahead with more acquisitions to beef up its presence in emerging sectors, such as mobile Internet.
Baidu launched a promotion campaign in about 100 Chinese cities in the second quarter in a bid to lure more small and medium-sized advertisers.
The company had about 352,000 active online advertisers in the second quarter, a 9.7-percent increase from the previous quarter. Its Web-based advertising service generated almost the entirety of its revenue.
Baidu accounted for more than 78 percent of China’s search-engine market by revenue, compared with 15.7 percent for Google, according to Analysys International.
Profit Up
Great Wall Motor Co., China’s largest sport utility vehicle (SUV) producer, announced on July 25 that its first-half profit will jump 30.29 percent year on year.
Net profits in the first six months hit 2.36 billion yuan ($369.6 million).
The company’s sales maintained double digit growth in the first half although China’s auto market slumped because of the slowing economy, the removal of subsidies and tighter rules on new car registration.
The automaker’s sales grew 17 percent from one year earlier to 279,300 units in the first half.
The company’s Haval series was one of the most-purchased SUVs in China in the first six months, with sales surging 41 percent year on year to 110,000 units.
Great Wall C30 was also a best-selling model due to its competitive prices. Its sales reached 68,000 units in the first half.