Benefiting noticeably from rival Google's destabilized position in China, the local search engine Baidu has shown a more than two-fold increase in its first-quarter earnings; and its profit and a sales forecast has surpassed the estimates of the analysts. With average spending by clients likely to continue, Baidu expects "healthy" growth in customers.

Saying that customer gains at Baidu have been largely accelerated as its closest search market rival Google has moved its Chinese site to Hon Kong, Baidu CEO Robin Li said during a conference call: "We benefited from Google's semi-exit. If we can execute well, we will certainly benefit from the growth opportunity of this market, if not there is lots of competition ready to take up the opportunity."

Statistically speaking, the quarterly net profit figures posted by Baidu stood at 480.5 million yuan ($70.4 million) or 13.77 yuan per American depository share (ADS); increasing from the same period earlier year figures of 181.1 million yuan, or
5.22 yuan per ADS. The profit figures beat the analyst estimates of $1.50 per share earnings.

While Baidu shares rose sharply during the first quarter - from 58.4 percent to 64 percent -; Google's share of Chinese Internet-search market revenue, as per estimates by research firm Analysys International, plunged to 30 percent in the first quarter vis-a-vis the earlier quarter figures of 35.6 percent.