Google's Exit From China Has Benefited Baidu.

Baidu (Nasdaq:BIDU) released its first quarter results in fiscal year 2010. Robin Li, chairman and CEO of Baidu, said at a subsequent conference call that Baidu benefited from Google's withdrawal. He also stressed that Baidu's future will depend mainly on its own growth.

Google announced its adjustment strategy in China in the first quarter of this year. In response to the impact of the matter on business development, Robin Li said at a conference call that Baidu really benefited from it. He further pointed out that Baidu's benefits were more obvious under the promotion of customer loyalty and the synergy effect of phoenix nest.

And the benefits of Baidu will continue to grow. In today's earnings report, Baidu expects its total revenue in the second quarter to be RMB 1 billion 830 million yuan (US $268 million 100 thousand) to RMB 1 billion 870 million yuan (US $274 million), an increase of 67% to 70% over the same period last year. This is also a record of Baidu's record high performance expectations.

But Robin Li also stressed that the current Chinese search market is still very low, and the future growth prospects are very large. He said, "I think our future growth will still come mainly from its own growth".

Wang Jin, former vice president of Google Research Institute of China, joined Baidu at the beginning of this month, and became Vice President of technology. Since then, Wang Jin has become the first Chinese Google executive to join Baidu. It is reported that there will be a group of Google original Chinese R & D team members, following Wang Jin to become a new member of Baidu R & D team.

Baidu released its unaudited results in the first quarter of fiscal year 2010 as of March 31st. The report showed that Baidu's total revenue in the first quarter was 1 billion 294 million yuan (US $189 million 600 thousand), an increase of 59.6% over the same period last year. Net profit in the first quarter was 480 million 500 thousand yuan (US $70 million 400 thousand), up 165.3% over the same period last year.