Chinese Internet search giant Baidu Inc. on July 24 reported higher-than-expected second-quarter revenue, boosted by small and medium-sized advertisers. Baidu had 5.46 billion yuan ($855 million) in revenue in the second quarter, up nearly 60 percent year on year.

The company also said it is likely to go ahead with more acquisitions to beef up its presence in emerging sectors, such as mobile Internet.

Baidu launched a promotion campaign in about 100 Chinese cities in the second quarter in a bid to lure more small and medium-sized advertisers.

The company had about 352,000 active online advertisers in the second quarter, a 9.7-percent increase from the previous quarter. Its Web-based advertising service generated almost the entirety of its revenue.

Baidu accounted for more than 78 percent of China's search-engine market by revenue, compared with 15.7 percent for Google, according to Analysys International.