BEIJING Feb 27 Baidu Inc is prepared
to grow by making further acquisitions in 2014, Chief Executive
Robin Li said on Thursday after the Chinese Internet company
reported its fourth quarter earnings.
Baidu's aggressive strategy to gain ground on competitors
such as Tencent Holdings Ltd and Alibaba Group Holding
Ltd has spurred a buying spree. It bought the 91 Wireless app
store in August for $1.9 billion and group-buying site Nuomi
Baidu 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.
Baidu's net income fell slightly by 0.4 percent to 2.78
billion yuan ($453.89 million).
The company projected that revenue in the first quarter will
range between 9.240 billion yuan ($1.526 billion) and 9.520
billion yuan ($1.573 billion).