Heard on the Street: Baidu reported its first quarterly loss since listing on Nasdaq in 2005. The Chinese internet giant needs to make its core search business work
Late on Thursday in New York, Baidu reported its first quarterly loss since listing on Nasdaq in 2005, of $49 million. Its perennially unprofitable Netflix-like video subsidiaryiQiyicontinued to splurge on content, while Baidu’s core search business failed to fully offset iQiyi’s losses.
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