Baidu Profits Soar 87% in Second Quarter

Google, Microsoft and Yahoo may have disappointed Wall Street, but Baidu is proving to be a Dark Knight in this tough economy.

Boosted by advertising sales in advance of the Beijing Olympics, the Chinese search engine posted an 87% jump in profits in the second quarter of 2008. Net profit came in at $38.6 million, beating expectations of $35.5 million.

Baidu owned 63% of the search market in China, accoring to iResearch. Google had 26% and Yahoo came in third at 8%.

source: Reuters

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