Baidu records largest profit drop in 11 years
Chinese web services company Baidu on Friday reported the largest drop in profits since its IPO that took place 11 years ago. Baidu reported a net income of $363.2 million for Q2 2016, down 34.1% year-on-year. The profit drop was reportedly triggered by a public enquiry following the death of a man who took a cancer treatment advertised on its service.