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October 29, 2016

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Baidu sees drop in revenue

CHINA’S largest search engine operator Baidu reported a lower-than-expected outlook for the fourth quarter after online marketing revenue fell in the third quarter as online customers declined, its quarterly earnings report said yesterday.

Baidu predicted fourth-quarter revenue of between US$2.68 billion and US$2.76 billion, below the U$2.86 billion view from analysts.

Its net profit was 3.1 billion yuan (U$457 million) in the third quarter, up 9.2 percent from a year ago.

In the quarter, Baidu suffered a 6.7 percent fall in online marketing revenue to 16.49 billion yuan after the number of active online marketing customers dropped 16 percent.



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