A
smartphone showing the Baidu Browser application is seen in this picture
illustration in Beijing. Chinese online search giant Baidu Inc has cut
its revenue forecast for the second quarter to US$2.81-2.82 billion from
US$3.12-3.19 billion, saying regulatory scrutiny into health care and
related ads was hurting its advertising revenue. Chinese regulators
imposed limits last month on the number of medical ads carried by Baidu
after the death of a 21-year-old student who underwent an experimental
cancer treatment, which he found using the company’s search engine.
Analysts estimate that health care accounts for about 20-30 percent of
Baidu’s search revenue, which represents more than 80 percent of the
company’s total sales. — Reuters
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