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Baidu Sees Hit From China Slowdown as Forecast Trails Estimates

  • Overhaul of medical ads, regulations to impact sales
  • Impact could last for next few quarters as it boosts spending
Bloomberg business news
Baidu forecast revenue that fell short of analysts’ estimates. Tom Mackenzie reports.(Source: Bloomberg)
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Baidu Inc. predicted sales below analyst estimates as the Chinese search giant warned about a potential hit from regulatory changes, a slowing economy and the overhaul of its medical ads business.

Revenue will be as high as 26.72 billion yuan ($3.8 billion) in the December quarter, the Beijing-based company said Tuesday, falling short of the 27.8 billion yuan average of estimates compiled in the past four weeks. Baidu said the impact could last for the next few quarters as it ramps up spending on video content.