Baidu to Post High Growth Rate for ‘Years,’ CEO Says

Baidu Inc., operator of China’s most-used Internet search engine, will post a high growth rate “for years to come” as online demand surges in the world’s third-biggest economy, Chief Executive Officer Robin Li said.

The Chinese company plans to generate growth through its search-engine operations and won’t shift focus, Li told analysts today in a conference call. Baidu doesn’t intend following Google Inc. in offering online music, he said today.

Baidu said first-quarter profit rose 24 percent as advertising sales surged after the company spent more on marketing to maintain its lead over Google in China, the world’s biggest Internet market by users. The Beijing-based Web site’s shares have gained 72 percent this year, outperforming Chinese Internet stocks including Tencent Holdings Ltd. and Sina Corp.

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- Posted: 2009-04-28 08:32:53

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