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Baidu and Sohu See Surging Top Lines as China's Internet Market Continues to Grow

^{Published on 2011-04-01 05:30:32 - Market Wire}
 

NEW YORK, NY--(Marketwire - April 1, 2011) - As China's middle class expands, its internet market continues to grow at a rapid pace. According to the China Internet Network Information Center, China has the world's biggest population of internet users with more than 500 million. A recent study from the consultancy, McKinsey & Co estimated that 6 million people go online for the first time in the country every month, and predicted the Chinese internet population will grow to 750 million in 2015 The Bedford Report examines the outlook for companies in China's Internet Sector and provides research reports on Baidu, Inc. (NASDAQ: [ BIDU ]) and Sohu.com, Inc. (NASDAQ: [ SOHU ]). Access to the full company reports can be found at:

[ www.bedfordreport.com/2011-04-BIDU ]

[ www.bedfordreport.com/2011-04-SOHU ]

A recent report from Bloomberg notes that Chinese internet stocks have been on the upswing since Google said the Chinese government is blocking its Gmail e-mail service. Mike Hickey, an equity analyst at Janco Partners, told Bloomberg the government's continued intervention with internet competition is certainly a positive catalyst for domestic Internet players."

The Bedford Report releases regular market updates on the Chinese Internet Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at [ www.bedfordreport.com ] and get exclusive access to our numerous analyst reports and industry newsletters.

For the most part, the boom in internet users, has led to a surge in profits for several marquee Chinese websites. Sohu.com's fourth-quarter earnings of $1.07 a share topped the consensus estimate of 99 cents a share. Revenue soared more than 25 percent to $173.2 million. The company said it expects to earn $1.03-$1.08 a share in the first quarter on sale of $164.5-$169.5 million. The company attributed online gaming and brand advertising for the revenue growth.

Also posting a surge in profits is China's search market -- which earns significant revenues from advertising. According data from iResearch, China's search market grew 67 percent in the fourth quarter to $486.8 million, with Baidu holding a dominant 73 percent of the market by revenue.

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