China’s Baidu posts $326 million profit in Q4

China’s largest search engine site Baidu’s profits surged by 77 percent to 2.05 billion yuan ($326.3 million) in the fourth quarter of last year.

Baidu, which has about 73 percent share of China’s search engine market, said in a stock exchange filing Friday that revenue in the three months ending Dec 31 jumped 83 percent to 4.47 billion yuan, the Shanghai Daily reported Saturday.

Robin Li, chief executive officer of Baidu, said at a conference call after the earnings release that the company will continue to upgrade its service and technology in the mobile internet sector.

Other big players, including Tencent Holdings and Alibaba Group, have been spending heavily on new products and services to tap users who are more accustomed to using their mobiles to search for information and communicate with friends.

Li said Baidu won’t make money from mobile products and services in the next three to five years and will focus more on the users’ side.

In 2011, the company earned 6.64 billion yuan and revenue jumped 83 percent to 14.5 billion yuan.