China's Internet search giant Baidu Inc. reported strong growth in the third quarter. But its mobile business still lags behind computers in terms of monetization.

In the third quarter, Baidu's revenue increased 42.3 percent year on year to 8.89 billion yuan ($1.45 billion); its operating profit increased 1.2 percent year on year to 3.34 billion yuan ($548.1 million); its income stood at 3.05 billion yuan ($500.5 million), an increase of 1.3 percent from the corresponding period in 2012.

Baidu said it expects to generate total revenues ranging from 9.22 billion yuan ($1.51 billion) to 9.48 billion yuan ($1.56 billion) in the fourth quarter, which would be a year-on-year increase of between 45.5 percent and 49.6 percent.

"Mobile search revenues in particular continued to grow at an exciting pace as more of our customers recognize the benefits of mobile marketing on the Baidu platform," said Robin Li, Chairman and Chief Executive Officer of Baidu.