Baidu has announced that its Q2 net profit has almost doubled compared to the same period last year and is predicting a further increase in Q3. Baidu is benefiting from the increasing number of advertisers investing heavily in the world’s largest internet market, which passed 500 million users last week, and has grown its number of customers by 17%. As the majority of its revenue comes from search advertising the Chinese-owned search engine is constantly developing its product, including the recent launch of a new keyword advertising system.
Google’s decision in 2010 to pull its search engine out of the country, has also been of benefit to Baidu, which now has 75.9% of search share in China, compared to just 18.9% for Google.
