Baidu Suffers Record Plunge in Profit

ENLARGE Baidu’s profit fell 36% in the second quarter, its biggest earnings plunge since going public. Photo: Agence France-Presse/Getty Images By Alyssa Abkowitz Alyssa Abkowitz The Wall Street Journal CANCEL Biography @AlyssaAbkowitz Alyssa.Abkowitz@wsj.com Updated July 29, 2016 12:42 a.m. ET 0 COMMENTS Baidu Inc. BIDU 0.08 % suffered its biggest earnings drop since it went public 11 years ago, after government investigations into the internet giant’s search and advertising practices led to stricter regulations that hurt its ad business. After reporting a 36% decline in second-quarter net income to 2.4 billion yuan ($360.5 million) from a year earlier, Baidu Chief Executive Robin Li said on a conference call that the heightened regulatory environment will likely suppress revenue for the next two to three quarters. “This period of uncertainty will pass,”…


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