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Baidu profit doubles in 2008

By Tong Hao (chinadaily.com.cn)
Updated: 2009-02-20 14:12

Baidu Inc, the world's largest Chinese-language search engine, said on Thursday that its profit in 2008 doubled to 1.09 billion yuan, driven by the increasing number of Internet users in China.

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It posted operating revenue of 3.19 billion yuan in 2008, an 83.3 percent increase year-on-year, the company said in its unaudited financial report.

The NASDAQ-listed company said its active clients in the fourth quarter of 2008 increased 1.5 percent to 197,000, its 15th consecutive quarter of growth.

Robin Li, Baidu president and CEO, said hits on the website continued to grow rapidly after the Spring Festival.

The company expects its revenue to grow by 36 to 39 percent year-on-year in the first quarter of 2009.