(Reuters) – Search engine giant Baidu reported quarterly revenue down by about 2%, as a slow Chinese economy forces small businesses to trim spending on advertising.
Its revenue in the fourth quarter stood at 34.12 billion yuan ($4.69 billion), beating analysts’ estimate of 33.32 billion yuan, according to data compiled by LSEG.
($1 = 7.2779 Chinese yuan renminbi)
(Reporting by Akash Sriram in Bengaluru and Yelin Mo in Beijing)
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