A Chinese internet marketing and search site has revealed that it has more than doubled its revenue for the second quarter of 2007.
Associated Press (AP) states that internet search engine Baidu has seen revenue jump to 401.3 million yuan (£25.9 million) from 189.1 million yuan in 2006.
Baidu chief executive Robin Li said the company has witnessed robust growth and a healthy increase in internet marketing customers.
Gene Munster, an analyst for Piper Jaffray told AP: "They have a pole position in the market for ultimately what is going to be tremendous growth in e-commerce in China over the next five years."
He added that Google was making progress in its attempts to increase its market share but that at the moment this would only represent a red flag to Baidu.
Earlier this month it was revealed that Google was being sued by a Chinese company over the rights to the use of its name.
The Chinese branch of the search engine is being taken to court by Beijing’s Guge Science, as ‘Guge’ is a translation of the English word ‘Google’.