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China's Baidu posts 31% rise in Q4 net profit

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Baidu Inc., which operates China's most popular Internet search engine, said Thursday its unaudited net profit in the fourth quarter of 2008 soared 31.3 percent year-on-year to 288.7 million yuan (US$42.3 million).

Total business revenue for the quarter increased 58 percent to 902.1 million yuan (US$132.2 million), the Beijing-based company said in a statement.

(Xinhua News Agency February 19, 2009)

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