Baidu beats expectations in Q2

The Chinese Internet search giant Baidu Inc posted higher-than-expected second-quarter earnings on Tuesday after it had received a boost from small and medium-sized advertisers.

Meanwhile, Baidu officials said they are likely to pursue more acquisitions to give the company a larger presence in emerging industries, such as those having to do with mobile Internet devices.

Baidu generated 5.46 billion yuan ($858 million) in revenue in the second quarter of the year, an increase of nearly 60 percent year-on-year, according to the company.

"Our efforts to expand our customer base continue to make solid progress," said Robin Li, chairman and CEO of Baidu.

To attract more advertising revenue from small and medium-sized enterprises, the company embarked on a promotional campaign in about 100 Chinese cities in the second quarter of the year.

The company had about 352,000 active online advertisers in the second quarter, 9.7 percent more than in the first quarter of this year. Baidu's Web-based advertising service brought the company almost all of its revenue.