By CCN: Baidu, China’s largest search engine and that country’s equivalent of Google, suffered a 16 percent stock price haircut after reporting a poor earnings quarter that stunned shareholders. Baidu Stock in Freefall After Q1 Losses Shock Investors As China’s economic growth continues to slide, one of its largest tech companies, Baidu, has taken a hit to advertising revenues. It reported losses of $47 million for the first quarter of 2019, with online advertising demand plunging. CEO Robin Li blames his company’s woes on the slowing pace of China’s economic growth as well as tighter government oversight of the internet.
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* First published on ccn.com
