China search company Baidu has posted its Q1 results. Total revenues added up to $677 million, a 75% rise from last year’s Q1 tally. (For this same quarter ending March 31, Google reported revenues of $10.65 billion, a 24% hike since Q1 2011.) Baidu’s operating profits of $332.1 million matched analyst expectations, and also represented a 75% growth since last year. What was of concern was the revenue growth rate that Baidu expected of the second quarter this year. The expected total revenue of 56% growth for Q2 from Q1 is the lowest since Q4 2009, Bloomberg observes, and lower than analyst predictions. It’s also being understood as an indication that China’s slowing growth is affecting spending by companies. Baidu users currently account for 78.5% of the search market in China, with Google users following at 16.6 %
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