Baidu suffers record profit decline

www.wsj.com

Revenue dropped 34% year-on-year after the company instituted new policies on advertising. That follows an investigation into its ad practices after a young man died following a cancer treatment he had found advertised on Baidu. That's the trigger but, as this WSJ story explains, there's more. Baidu has also failed to build on its position and expand into new areas, unlike Tencent and Alibaba which have massively outgrown their rival.

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