Hasta La Creative!

Chinese internet giant Baidu is convinced it’s put the worst of a government-driven online advertising crackdown behind it after posting quarterly revenue that beat estimates.

Sales fell a less-than-projected 2.6% in the fourth quarter after China’s biggest search engine raised registration requirements for marketers and cut the number of ads it displays alongside results. The company instituted those measures to comply with regulatory restrictions imposed after a scandal involving medical advertisers provoked outrage on social media.

Those changes are largely complete and the company will now invest in video content and new services enhanced with artificial intelligence, Chief Financial Officer Jennifer Li told analysts on a conference call. President Qi Lu, who assumed the helm last month, is preparing to reshape Baidu and expand its products beyond search to beat back competition from Alibaba Group and Tencent Holdings.

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