China's Baidu posts 76% surge in Q1 profit 

(MENAFN) China's Baidu Inc. stated that net income in the first quarter hiked 76 percent from the same period a year earlier to USD299 million, reported AP.

The country's leading search engine added that in the period, revenue soared 75 percent, reaching USD677.1 million, whereas it's forecasted to reach between USD847 million and USD867 million in the second quarter.

The firm, which has 78.5 percent of China's search market, also said that its active online marketing clients jumped 17 percent in the quarter, reaching nearly 321,000, while revenue per customer grew 49 percent.

It is worth noting that according to the China Internet Network Information Center, the country has the biggest population of internet users in the world, with 513 million people online as of December, recording an increase of 12 percent from the previous year.