Get the latest news alerts: at Twitter.

A roundup of the latest high-tech news “Hot Off the Wire” from The Associated Press:

• Baidu 1Q jumps 165 percent, topping forecasts

NEW YORK – China’s Internet search leader Baidu Inc. said Wednesday that its first-quarter net income jumped 165 percent as revenues and advertising customers grew.

The company also announced a 10-for-1 split for its American depositary shares (Nasdaq: BIDU) that will be reflected in share prices as of May 12. The ordinary shares are not changing.

Net income in the three months to March 31 rose to $70.4 million, or $2.02 a share. Revenue grew 60 percent to $189.6 million.
Both measures exceeded the expectation of analysts polled by Thomson Reuters, who forecast earnings of $1.50 per share on revenue of $180 million.

Baidu’s American depositary shares rose $88.61, or 14.3 percent, to $709.99 in after-hours trading on Wednesday, after climbing $1.27 to close at $621.38 in the regular session.

Baidu got a big boost in China last month after Google Inc. shut its mainland-based search engine to move to the Chinese territory of Hong Kong. Google was protesting government censorship of search results.

• IAC 1Q loss narrows as online ad revenue climbs

SAN FRANCISCO – Internet company IAC/InterActiveCorp (Nasdaq: IACI) said Wednesday that its first-quarter loss narrowed as online advertising bounced back from a slump that persisted throughout most of last year.

For the first three months of the year, the company run by media billionaire Barry Diller had a net loss of $18.7 million, or 16 cents per share, compared with a net loss of $28.4 million, or 19 cents per share, in the year-ago quarter.

Revenue for the New York-based company climbed 16 percent to $385.9 million, well ahead of analyst expectations for $350.2 million.

Most of IAC’s growth came from the core search business, which includes the Ask search engine and city guide Citysearch and makes money from ads. Here, revenue jumped 20 percent to $199 million.

That marks a stark change from last year, when search revenue dropped for the first nine months and then rose just 3 percent in the fourth quarter. IAC even took a $991.9 million impairment charge in the fourth quarter to account for decreased projections for revenue and profit growth at its search properties.

IAC’s improvements in revenue from online advertising mirror results from Google Inc. and Yahoo Inc. On April 15, Google said that its first-quarter revenue rose 23 percent, while Yahoo said April 20 that its revenue rose 1 percent. The vast majority of both companies’ revenue comes from online ads.

• AOL 1Q profit slumps as ads, sells instant messaging subsidiary

NEW YORK – Very little went right for AOL Inc. (NYSE: AOL) in the first quarter as it cut way back on staff and tried to refocus its business. The Internet company said Wednesday that tumbling online advertising revenue, along with restructuring costs, led to a 58 percent drop in first-quarter net profit.

The company, which separated from Time Warner Inc. last year, earned $34.7 million, or 32 cents per share. This compares with $82.7 million, or 78 cents per share, in the year-ago quarter.
Revenue fell 23 percent to $664.3 million, missing analyst estimates for $679 million, according to Thomson Reuters.

AOL struggled in both its traditional business and its newer ones. Its long-declining dial-up Internet service revenue fell 28 percent to $282.7 million, while its advertising revenue fell 19 percent to $354.3 million. The ad shortfalls came in both "display" ads, which include graphical online billboards, and search ads.

AOL also said Wednesday that it agreed to sell its ICQ instant messaging business for $187.5 million in cash to Russian Internet investor Digital Sky Technologies Ltd., which also owns a small stake in Facebook. AOL, then known as America Online, paid $287 million to buy Mirabilis Ltd., the Israeli company behind ICQ, in 1998. That deal also called for AOL to pay as much as $120 million more if Mirabilis met certain performance targets.

The company said earlier this month that it plans to sell or close its social networking site Bebo, about two years after spending $850 million to acquire it. AOL Chief Financial Officer Artie Minson said the company expects to have a sale or shutdown of Bebo "wrapped up" by the end of May.