Baidu Posts Its Biggest Decline Ever Since Going Public by Reuters @FortuneMagazine July 28, 2016, 4:20 PM EDT E-mail Tweet Facebook Linkedin Share icons Baidu, China’s biggest Internet search firm, reported a 34% fall in quarterly net income—its biggest ever decline since going public—hurt by a healthcare scandal that embroiled the company this year. The company’s net income fell to 2.41 billion yuan ($362 million) in the April-June quarter from 3.66 billion yuan a year earlier, Baidu said in a statement on Thursday. Baidu was expected to post net income of 2.42 billion yuan, according to a Thomson Reuters survey of eight analysts. Subscribe to Data Sheet, Fortune’s daily newsletter about the business of technology. Baidu’s revenue rose 10.2% to 18.26 billion yuan from 16.58 billion yuan a year earlier, marking its slowest growth in nearly eight years. For more about how self-driving cars are transforming the auto industry, watch: Analysts had expected revenue to rise 9.6%.