Baidu revenue and profit growth rate slow in fourth quarter

A photo illustration shows a graphic depicting a Chinese national flag flying atop of the disputed islands, being seen on the front page of Chinese search engine website Baidu, on a computer screen in Beijing(Reuters) – Baidu Inc , China's largest search engine company, reported its slowest profit growth since 2009, as competition in the sector heats up and more users switch to mobile search. Shares of Baidu were down 6.7 percent at $ 100.01 in after hours trading on Monday. Baidu had previously warned of a soft fourth quarter as China's economy slows. Industry analysts warn that rapidly changing user habits and an increasingly crowded search market could weigh on revenue in the near future. …

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