国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

Baidu cuts revenue forecast on ad scandal

(Agencies)
Updated: 2008-12-14 10:15

Baidu.com Inc., China's leading search engine, is cutting its projected revenue by up to 15 percent after it dropped some advertisers because of a scandal over unlicensed companies selling medical products.

Fourth-quarter sales are expected to be 890 million yuan to 900 million yuan ($131 million-$133 million), down from the previously forecast 1.025 billion yuan to 1.055 billion yuan ($151 million to $155 million), the company said in a filing Friday with the US Securities and Exchange Commission.

Baidu said the revenue reduction was due to China's economic slowdown and the removal of listings for medical advertisers that failed to provide licenses and some other "questionable" advertisers. It gave no indication it expects a long-term impact.

Baidu was jolted in November after Chinese state television reported that it allowed unlicensed medical suppliers to use its paid-search service, which lets customers pay for higher rankings on its results page. The company's US-traded shares fell 30 percent in the first trading session after the report.

Baidu said at the time it was not legally required to confirm that advertisers were licensed. But industry analysts said it had to take action to reassure customers amid a string of scandals over deaths and injuries caused by tainted or counterfeit milk, medicines and other products.

Baidu has some 60 percent of China's search market, well ahead of No. 2 Google Inc., and said profit in the last quarter rose 91 percent from a year earlier.