On October 22, 2008 Baidu.com announced its third fiscal quarter earnings results. The company reported revenues of $135.4 million, an increase of 85% from the same period in 2007. Despite the solid earnings, shares in the U.S. fell upon investors' concern over Baidu's ability to remain profitable in the weakening global economy.
On April 24, 2008 Baidu.com released its first quarter earnings results. The company announced that its profits rose 71.5% from the same period last year. Revenues also increased significantly to $81.9 million for the quarter, a gain of 108.4% from the same period last year. The company cited online marketing revenues as the biggest driver for their gains this quarter.
JP Morgan Chase forecasted BAIDU's 3rd quarter earnings would be lower than expected.
Baidu dominated Google in online advertising earning in the second quarter by controlling a quarter of the $214M spend on advertising.
Second Quarter 2007 Net Income Grows 143% Year-Over-Year for Baidu
Baidu rises after analysts upgrade their ratings on Baidu as confidence in the company increases.
Baidu to set up a special "EMI Music Zone" to stream all of EMI Music's Chinese content. Revenues sharing program initiated for an ad-supported download service.
Baidu announced plans to launch a Japanese language version of the website in a bid to expand beyond China to Japan.
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