On the morning of June 14, Baidu lowered its current quarterly revenue forecast due to concerns that the government's supervision of the medical industry has caused its related advertising business to be damaged. Affected by this news, Baidu's share price fell 6% to $153.60 in after-hours trading on Monday.
After the "Weize Zexi Incident", Chinese regulators imposed restrictions on the number of medical advertisements displayed by Baidu last month.
Baidu said the company's second-quarter revenue forecast was revised down from $3.12 billion to $3.19 billion to $2.81 billion to $2.82 billion, as medical customers cut or postpone large spending.
On May 9 this year, the investigation team announced the results of the investigation into Baidu. The investigation team believes that Baidu search related keyword bidding results objectively has an impact on Wei Zexi's choice of medical treatment. Baidu's bidding ranking mechanism has problems such as excessive paid bidding weight and unclear commercial promotion logo, which affects the fairness of search results. And objectivity, easy to mislead netizens, must be rectified immediately. Experts believe that rectification will have an impact on Baidu's advertising revenue by more than 10%.
That night, Baidu said that it will be fully implemented from six aspects according to the rectification requirements of the investigation team. During the investigation, under the supervision of the joint investigation team, Baidu Company has re-examined the qualifications of all medical institutions (including medical institutions, medical devices, pharmaceuticals, etc.), and realized the promotion information of 2,518 medical institutions and 126 million pieces of information. Line processing.
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