Baidu Looks Cheap Despite Slowing Growth And More Competition
Baidu is the leading online search provider in China and it derives around 60% of its revenues from search advertising. The Chinese search advertising market growth is slowing after seeing heavy growth over the past years. In 2012, the market grew by 49%, as compared to 55% and 67% growth in 2010 and 2011 respectively. Over 2013-2016, the growth rate is further estimated to slow down to a CAGR of 24.6%.