SHANGHAI Oct 24 China's largest search engine
Baidu Inc estimates its advertising revenue will exceed
20 billion yuan ($3.20 billion) this year, up from 14.5 billion
yuan last year, NetEase Technology News reported, citing Baidu's
Baidu will report third-quarter results on Monday. The firm
posted 9.8 billion yuan ($1.6 billion) in online marketing
revenues for the first half of the year.
Wang Zhan, Baidu's vice president in charge of sales, was
quoted as saying at an industry event that advertising sales
last year exceeded 14 billion yuan ($2.2 billion) and this year
were expected to surpass 20 billion yuan, according to the news
site of Internet firm NetEaseInc.
Wang's projection indicates that Baidu is still bullish on
China's online advertising market and sees a faster rate of
sales in the second half of the year. A Baidu spokesman declined
to comment when asked about the article posted on Tuesday.
This month, Baidu's shares slumped after Credit Suisse
downgraded its stock to "underperform" from "neutral" on concern
that it may not be able to hold on to its search market
Qihoo 360 Technology, a Chinese anti-virus software
company, launched a search engine in August that has begun to
eat into Baidu's market share.