Aug. 10, 2011 (China Knowledge) - Baidu Inc<BIDU>, China's No.1 Internet search provider, announced that it has inked an agreement with German luxury-car maker BMW AG to provide its search services in some of the BMW's vehicles, sources reported. Baidu said in a statement that a platform will be developed to enable car owners to read email, view maps and other information in their vehicles in China. Baidu expects to further expand its services beyond personal computer-based Internet search. The internet-search giant is also in talks with other automakers about similar possible cooperation, said Baidu, without elaborating. In July 2011, Baidu reached an agreement with a Chinese television company to provide TV-based search services. Baidu saw its net profit reach RMB 1.63 billion in the second quarter of this year, representing a year-on-year increase of 95%, according to a statement filed with the Nasdaq Stock Market. Basic and diluted earnings per American Depositary Share amounted to RMB 4.68 and RMB 4.67, respectively. On a non-GAAP basis, the company's net profit stood at RMB 1.67 billion in the second quarter of 2011, a 94.1% increase from the corresponding period in 2010. Basic and diluted earnings per ADS, on a non-GAAP basis, were RMB 4.78 and RMB 4.77, respectively.
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