New Street Research - Baidu Inc Sponsored ADR Class A (K3SD) BIDU 4Q24 Results: AI Cloud Remains Resilient

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New Street Research

Jin Yoon

BIDU 4Q24 Results: AI Cloud Remains Resilient

What’s new: Baidu’s reported 4Q24 top-line results that were largely in line with consensus and our expectations. Baidu Core ad rev growth could potentially bottom out in 4Q24 and recover throughout 2025 partly driven by monetization of gen-AI search ads. AI Cloud could remain resilient partly driven by demand for gen-AI related services. We maintain our PT at USD110.

Analysts:
Jin Yoon

19/02/2025 1 EN

Underlying

Baidu Inc Sponsored ADR Class A

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US0567521085 Singapore Exchange Cayman Islands

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Analysts

Jin Yoon

Other Reports on these Companies

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Baidu Inc (9888 HK): 4Q24: Solid earnings beat and strong AI cloud revenue growth outlook in 2025.

Baidu’s 4Q24 earnings beat expectations. Revenue dipped 2% yoy to Rmb34.1b, in line with consensus estimate. Gross margin inched down 3ppt yoy to 47.2%, within consensus expectation. Non-GAAP operating profit was Rmb5b, down 29% yoy, while non-GAAP operating profit margin came in at 15%. Non-GAAP net profit plummeted 13% yoy to Rmb6.7b, albeit surpassing consensus estimate by 39%. Maintain HOLD with an unchanged target price of HK$93.00 (US$103.00).

February 19, 2025 February 19, 2025 1 EN

UOB

Greater China Daily: Wednesday, February 19, 2025

KEY HIGHLIGHTS Results Baidu Inc (9888 HK/HOLD/HK$90.20/Target: HK$93.00) Baidu’s 4Q24 earnings beat expectations. Revenue dipped 2% yoy to Rmb34.1b, in line with consensus estimate. Gross margin inched down 3ppt yoy to 47.2%, within consensus expectation. Non-GAAP operating profit was Rmb5b, down 29% yoy, while non-GAAP operating profit margin came in at 15%. Non-GAAP net profit plummeted 13% yoy to Rmb6.7b, albeit surpassing consensus estimate by 39%. Maintain HOLD with an unchanged target price of HK$93.00 (US$103.00). Hysan Development (14 HK/BUY/HK$12.58/Target: HK$14.19) Hysan reporte...

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BIDU 4Q24 Results: AI Cloud Remains Resilient

Baidu Inc (9888 HK): 4Q24: Solid earnings beat and strong AI cloud revenue growth outlook in 2025.

Greater China Daily: Wednesday, February 19, 2025

AMT quick thoughts following the call

TIM Brasil (Buy, TP: R$22, +29%) Feedback from small group call with CEO

TCOM 4Q24 Results: Travel Demand Remains Resilient in 1Q

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