Baidu Earnings

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1st Quarter 2006

Baidu, the most popular Web site in China, is trading up 29.4% at $79.40. On May 10th, it reported first-quarter net income of ¥35.2 million ($4.4 million), sharply higher than its year-ago profit of ¥2.5 million. Revenue nearly tripled to ¥135.6 million from ¥45.7 million over the same period.

The company also issued guidance that exceeded Wall Street's estimates, citing surging online advertising revenue

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