China's Baidu 1Q net profit increases 70 percent

The company, which is the Chinese online search engine leader, earned revenue of 570 million Yuan, 108 percent higher than the same period of last year. Baidu said that the growth of users and average income from per user contributed to the growth.

Baidu's customers reached 161,000 in the first quarter, 43.8 percent higher than the same period of last year, while the average income from per customer was about 3600 Yuan, 44 percent higher than last year.

Baidu said in early April that it has recently signed an agreement with China Netcom (CNC). According to the agreement, if a CNC's user enters a wrong website address, it will been linked to a Baidu-relative search page. Baidu's chairman and chief executive Robin Li said that the cooperation increased the Baidu user traffic and income.

Baidu also expected the second quarter's revenue to be 35 percent higher than the first quarter.