The Real Threat to Baidu’s Health Isn’t Covid-19
Chinese search giant Baidu is recovering from the damage wrought by the Covid-19 pandemic, but there is little sign of progress on treating its more chronic ailments. As long as that is true, there could be limited upside from investing in the firm.
After the market closed Monday, Baidu said its advertising revenue last quarter fell 19% from a year earlier. Its overall revenue fell just 7% year-over-year, cushioned by its video-streaming subsidiary iQiyi, which got a boost as people stayed at home. iQiyi, however, is still…