Baidu swings to net loss for first time since listing, shares fall

Chinese search engine operator Baidu Inc booked its first quarterly loss since at listing in 2005 and forecast quarterly revenue below market estimates, saying a "challenging marketing environment" is sapping income from advertisers. The tech giant also pointed to the income impact of heightened government scrutiny of online advertising aimed at reducing the visibility of potentially fraudulent businesses. After the earnings report on Thursday, the price of Baidu's U.S.-listed shares fell as much as 8% in extended trading.

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