Quick Take: Baidu First-Quarter Profit Nearly Quadruples
Internet giant Baidu Inc.’s profit surged 277% year-on-year in the first quarter, buoyed by strong online advertising sales.
Profit hit 6.7 billion yuan ($1.1 billion) for the three months ending March 31, according to a statement on Friday. The company’s operating profit rose to 28% to 4.6 billion yuan, while revenue jumped more than 30% to 20.9 billion yuan.
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