BIDU: Ad Environment Is Still Challenging For The Near-Term; 2020 Is An Investment Year For BIDU
BIDU will report 2Q20 results on August 13th after the markets close followed by a 9:15pm EST conference call. We are cautious on China’s advertising market in the near term. We believe the ad environment in 2020 may be challenging for the company. In 2Q20, some of the traditional e-commerce advertising shifted away from traditional platforms to live streaming to market their products. In 3Q20, the seasonal popular sectors of travel, education and business services did not pick up normal growth. These market factors put pressure on BIDU. In addition, IQ’s viewership experienced a slowdown post COVID-19, and it is unlikely to pick up during the summer in 3Q20.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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