2 Reasons Tencent's Advertising Business Is Booming

2 Reasons Tencent's Advertising Business Is Booming

China's online advertising market has either been a minefield or a goldmine over the past year, depending on which companies you've invested in. For Baidu (NASDAQ: BIDU), which owns China's top search engine, it was clearly a minefield. Baidu's advertising revenue dropped year-over-year for six straight quarters; it broadly attributed its woes to China's economic slowdown, the ongoing trade war, the pandemic, and intense competition.