New Street Research - Baidu Inc (9888) ... BIDU 2Q23 Results: Margins Dependent on Investments Related to AIGC

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New Street Research

Jin Yoon

BIDU 2Q23 Results: Margins Dependent on Investments Related to AIGC

What's new: Baidu’s reported 2Q23 results were above consensus and our expectations. OMS rev growth could decelerate in 3Q partly due to tougher comps, while margins in 2H could be dependent on the pace of investments related to AIGC. We maintain our PT at USD200.

Analysts:
Jin Yoon

25/08/2023 1 EN

Underlyings

Baidu Inc

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Baidu Inc Sponsored ADR Class A

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US0567521085 Singapore Exchange Cayman Islands

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Analysts

Jin Yoon

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BIDU 2Q23 Results: Margins Dependent on Investments Related to AIGC

Ride-sharing & Delivery: Lower prices fuel accelerating volumes

BIDU 1Q25 Results: Restructuring of AI Search to Put Pressure on Ad Revs in the Next Few Quarters

Baidu Inc (9888 HK): 1Q25: Solid earnings beat; fuelled by AI cloud growth and monetisation visibility.

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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