Chinese search engine Baidu reports 27% quarterly profit riseOctober 30, 2014 - 12:26 AMT PanARMENIAN.Net - Chinese search engine Baidu Inc. said Thursday, Oct 30, its quarterly profit rose 27 percent as user traffic for its mobile operation surpassed passed its desktop computer-based search business, according to the Associated Press. The Beijing-based company said it earned 3.9 billion yuan ($631.5 million), or 11 yuan ($1.79) per share. Revenue rose 52 percent over a year earlier to 13.5 billion yuan ($2.2 billion). "This quarter, mobile traffic surpassed PC traffic and mobile revenue contributed 36 percent of our total revenue," said chairman Robin Li in a statement. Baidu and other Internet companies that flourished in the era of desktop computing are racing to roll out mobile services as Chinese users rapidly shift to going online using smartphones and tablet computers. Baidu dominates traditional Internet search but is a much smaller presence in mobile. Baidu has spent more than $2.7 billion since the start of 2013 to expand its mobile offerings by acquiring video, group-buying and other services. The company's push into mobile was reflected in a 95 percent increase in the latest quarter's selling and administrative expenses, which the company said was due mainly to promotional spending for mobile products. In the current quarter, the company said it expects total revenue in a range of 13.8 billion yuan ($2.2 billion) to 14.2 billion yuan ($2.3 billion), or an increase of 45.4 to 49.6 percent. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |