Baidu third-quarter profit more than doubles

Reuters News
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Posted: Oct 26, 2017 4:47 PM

(Reuters) - 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.

($1 = 6.64 yuan)

(Reporting by Munsif Vengattil in Bengaluru and Cate Cadell in Beijing; Editing by Shounak Dasgupta)