Baidu drops out of China’s top 5 internet companies

Baidu drops out of China’s top 5 internet companies

Chinese search leader Baidu Inc. has dropped off the list of China’s five most valuable internet companies ahead of its Q2 results next week, Bloomberg is reporting. In its Q1 2019 earnings results, Baidu revealed its first quarterly loss in over 15 years. At least five executives have stepped down from the company in 2019, including COO Lu Qi.