Robin Li, co-founder, chairman and chief executive officer of Baidu, speaks at the Wall Street Journal Digital conference in Laguna Beach, California, U.S. October 17, 2017. Photo: REUTERS/Mike Blake
China’s Baidu Inc reported a quarterly profit on Thursday that more than doubled, compared to a year earlier, helped by the search engine giant’s spending control on traffic acquisition costs.
Net income attributable to Baidu rose to 7.95 billion yuan ($1.20 billion) in the third quarter ended Sept. 30 from 3.10 billion yuan, a year earlier.
Baidu’s total revenue rose to 23.49 billion yuan from 18.25 billion yuan.