Baidu Q1 Income Up 142% Year over Year

30 Apr

Chinese Internet search provider Baidu Inc. (Nasdaq: BIDU) announced 2007 first quarter results after market close on Thursday. Total revenues hit US$35.7 million, up 2.5 percent quarter-on-quarter and 103.3 percent from the first quarter of 2006. Net income was $11.1 million, down 29.3 percent from $15.7 million quarter-on-quarter, but up 142.6 percent from the first quarter of 2006. Baidu also said in its earnings announcement that company COO David Zhu has resigned for personal reasons.

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