You will be redirected back to your article in seconds

Baidu feeling global crunch

Search engine lowers 4th qtr. revenue target

Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies.

The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million.

“The economic slowdown in China is having a greater than expected impact on online marketing particularly in machinery and franchising,” company said in a statement.

But chairman and CEO Robin Li forecast a return of business after a period of shakeout.

“As online marketing customers adjust to the current difficult economic environment, we believe they will increasingly realize the value of paid Internet search as a very powerful performance-based model,” Li said.

More Digital

  • Digital hollywood new leaders variety 2017

    Hollywood's New Leaders in Digital

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • Twitter

    Twitter Launches New Crackdown on Sexual Harassment, Hate Content After Boycott

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • R Stanton Dodge draftkings

    Dish Network Top Lawyer R. Stanton Dodge Exits to Join DraftKings

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • Facebook Orders Online Teen Drama ‘Skam’

    Facebook Orders Online Teen Drama ‘Skam’

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • Internet Pay TV Services Wont Gain

    Forecast Predicts Skinny Bundles Will See Limited Growth

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • Discovery ATLF and the VCC

    How Discovery, TLC and Tegna Are Bringing Live Internet-Video Calls Into On-Air Broadcasts

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

  • Magic Leap

    Magic Leap Announces $502 Million Funding for Augmented-Reality Headset

    Chinese Internet giant Baidu is the latest company to show that the financial tsunami is having truly global effects on media companies. The Nasdaq-listed search engine revised down its fourth-quarter revenue forecasts from a previous range of 1.05 billion yuan ($155 million) to a 15% lower target of $131 million. “The economic slowdown in China […]

More From Our Brands

Access exclusive content