Profits down at Baidu
Profits are down at the Chinese web giant though revenue has risen.
The company reported a 19 per cent drop in its Q1 2016 profits at roughly $300m, despite a revenue rise, as the company rejigs itself in preparation of expanding outside of the search-engine game. Revenue rose by 24 per cent to $2,44bn year on year, with mobile services providing the majority of it at 60 per cent. ®