More than triples to reach $175.9m
The fourth-quarter profit of Baidu, the search engine operator in China, has more than tripled.
The Beijing-based company’s profit jumped to 1.16bn yuan ($175.9m), or 3.32 yuan (50 cents) per American depositary share during the fourth quarter in 2010 compared with earnings of 427.9m yuan, or 1.23 yuan per US-traded share a year earlier.
Revenue of the company nearly doubled to 2.45bn yuan ($371.3m) from 1.26bn yuan.
Shares of the company rose $8.73, or 8.7%, to $117.36 in late trading after the report was released.
In regular trading, Baidu’s stock closed at $108.63, a gain of $2.09, or 2%.
The company said that it will integrate its search technology with other online activities such as e-commerce and social networking in future.