Earnings: Baidu Beats Expectations; Next Quarter Looks Strong Too

imageIn a sign of the strength of the search market in China, Baidu (NSDQ: BIDU) first quarter 2009 revenue was up 41 percent year on year, to $118.6 million, and operating profit jumped 32 percent, to $29.1 million. Earnings per share was $0.76. Analysts had been expecting revenue of $115 million and EPS of $0.74.

Baidu, which controls 64 percent of the Chinese search market, said it expected second-quarter 2009 revenue to grow between 32 percent and 36 percent.

Highlights for the quarter include: