Beijing, 27th February: Last week, Baidu, the leading search engine in China, released its financial results for the year ended 31st December 2019. Revenues in the year were US$15 billion, representing a year-on-year increase of 8%.

However, the company recorded a huge 93% decrease in profits down to US$296 million due to a write down on an equity investment. Diluted earnings per share in 2019 were RMB 5.60 (US$0.80).