Chinese Search Engine Baidu's Attempt to Diversify Misses

​Chinese Search Engine Baidu's Attempt to Diversify Misses Baidu Inc., China's largest search engine, posted the slowest revenue growth in seven years. Its revenue during the first quarter of the year was 15.82 billion yuan ($2.44 billion), a 24.3 percent rise from the same period last year. Analysts were expecting a rise of 24.7 percent. Online marketing revenue grew by 19 percent to 14.93 billion ($2.3 billion). Net income was at 1.99 billion yuan ($307.41 million) down by 19 percent from last year's 2.45 billion yuan ($378 million). Operating cost increased by 28.8 percent to 13.61 billion yuan ($2.1 billion). Baidu is trying diversify the source of its revenue, veering away from its main search engine business.