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Baidu Q3 profit up 60%, beats estimates

Oct 29, 2012, 8:14 PM EDT
A picture shows the logo of Baidu on its headquarter building in Beijing on July 22, 2010. Baidu, owner of China’s most-used search engine, said on Tuesday that its third-quarter profit rose 60% to 3.01 billion yuan ($480.5 million) from the same period a year earlier, easily exceeding analysts' expectations of 2.77 billion yuan for the quarter.
AFP/Getty Images/LIU JIN

Baidu, owner of China’s most-used search engine, said its third-quarter profit rose 60% to 3.01 billion yuan ($480.5 million) from the same period a year earlier as it fended off competition from Qihoo 360 Technology, maker of China’s most-used Web browser. Net income easily exceeded analysts' expectations of 2.77 billion yuan for the quarter.

TAGS: Qihoo 360 TechnologyBaiduWeb browsersearch engine
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