China’s Baidu (BIDU.NASDAQ) booked a twofold increase in third-quarter net profit as the search engine snatched market share from Google (GOOG.NASDAQ), Bloomberg reported. Net profit for the period came in at US$156.4 million against US$74 million the previous year. The company is currently in the process of upgrading technology to help it hold onto market share it took from Google, after the US search engine shut operations in China earlier in the year over mainland censorship issues. Baidu last month began selling online content such as books as part of its "box computing" service in the hope of diversifying revenue streams away from just search. Baidu accounted for 72.8% of the domestic search market by revenue in the third quarter, up from 71% in the previous quarter.
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