Express News | According to the notification from the Hong Kong Transportation Department, Baidu's Baidu Apollo International has obtained Hong Kong's first autonomous driving vehicle pilot license.
Baidu Group-SW (09888.HK): AI-driven asia vets high growth, AI applications and smart driving accelerate implementation.
The low point of the domestic internet plus-related cloud business has passed, and AI has driven the growth of revenue from the domestic internet plus-related cloud business and advertising services. With the end of the consumer internet user dividend and the macro impact on corporate IT spending, the domestic public cloud market from 2021 to 2023.
Soochow brokerage maintains a 'buy' rating on baidu group (09888), pointing out that Q3 net income is below expectations.
Jingu Financial News | Soochow Securities released a research report stating that Baidu Group (09888) had revenue in 2024 Q3 that met market expectations, but adjusted net income was below market expectations. In 2024 Q3, the company's revenue was 33.6 billion yuan, a year-on-year decrease of 3%, meeting consensus expectations; Non-GAAP operating profit was 7 billion yuan, a year-on-year decrease of 8%, weaker than consensus expectations; Non-GAAP net income was 5.9 billion yuan, a year-on-year decline of 19%, weaker than consensus expectations. Since 2024 Q3, the company's share buyback amount has been 0.161 billion USD, with the cumulative buyback amount under the 2023 share buyback plan reaching approximately 1.4 billion USD.
Baidu Group - SW (09888.HK) 2024Q3 Performance Review: Advertising under pressure, generative AI continues to transform the ecosystem
Performance Overview: In Q3 2024, the company's revenue met market expectations, while adjusted net income fell short of market expectations. In Q3 2024, the company's revenue was 33.6 billion yuan, a year-on-year decrease of 3%, in line with Bloomberg consensus expectations; Non-
Morgan Stanley downgraded baidu (09888.HK) to 'Neutral' with a target price adjustment to 85 yuan.
JPMorgan released a report stating that it has downgraded Baidu (09888.HK) from 'shareholding' to 'neutral', mainly due to uncertainty in macroeconomic recovery, resulting in a sharp decline in its profit visibility, and uncertainty about the negative impact of Generative AI (Gen AI) content deployment on monetization. The bank also reduced Baidu's adjusted earnings per share forecast for the fiscal year 2025 by 21%, lower than the market's expected by 17%, as it estimates a 7% reduction in the company's core advertising revenue forecast, and a 6-percentage-point downward revision in its core operating profit margin forecast. Although the bank predicts weakness in Baidu's core advertising revenue growth will continue next year.
Citi slightly lowers baidu (BIDU.US) target price to $141, expecting the core advertising business to bottom out in the first quarter of next year.
Citigroup published a report indicating that on November 22, a conference call was held with the Director of Investor Relations from baidu (BIDU.US). The main content included macroeconomic outlook and competitive landscape; AI transformation of the search business; outlook for cloud business; progress of smart driving business; and shareholder returns. The report noted that after the relatively weak performance in the third quarter, it is predicted that baidu's core advertising revenue in the fourth quarter will decline by 7% year-on-year, with a deeper quarterly decline. At the same time, the forecast for core advertising revenue in the first quarter of next year has been revised down by 3.1%, changed from a previous estimate of a 3% year-on-year decline to a 6% year-on-year decline, and the expenditure forecast has been adjusted due to considerations of higher profit margins.