Baidu expects 2014 net profit to stay flat vs 2013

BEIJING Wed Feb 26, 2014 10:01pm EST

BEIJING Feb 27 (Reuters) - Baidu Inc expects its 2014 net profit to remain flat compared to 2013, its chief financial officer Jennifer Li said on Thursday, as the Chinese internet company prepares to make acquisitions and major investments for growth.

Li was speaking after Baidu announced its fourth quarter earnings. The company saw revenues soar 50.3 percent to 9.52 billion yuan ($1.55 billion) in the final three months of 2013 on strong advertising sales and strength in its mobile business, outpacing its own forecasts.

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