China’s rapidly rising online population helped Beijing-based online search company Baidu (Nasdaq: BIDU) post significant 4Q revenue increases. The quarter’s revenue climbed 136.1 percent, coming in at $34.8 million. Total revenues for the year were $107.4 million, a 162.5 percent gain over 2005.
The company’s content partnerships with MTV Networks and EMI that were initiated in 4Q, as well as a strategic alliance with Microsoft for paid search services, drove more traffic and represented the main contributions to its revenue increases. Other highlights include:
—4Q net income increased to $15.7 million, a 400.2 percent increase year-over-year.
—Net income for 2006 as a whole rose to $38.7 million, a 533.9 percent increase from 2005.
—The number of active online marketing customers during the quarter grew to over 108,000, an increase of 5.9 percent from the previous quarter.
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