BIDU / 9888.HK: Ongoing Economic Recovery Is Positive For BIDU’s Advertising In 1Q21; Continuing To Focus On AI Applications and EV Car Investments
BIDU will report 1Q21 results on May 18th before the markets open with an 8:00am EST conference call. Based on our data and model, BIDU’s 1Q21E total revenue is likely to be better than consensus at RMB27,286M (21.0% Y/Y growth) driven by the continued recovery of China’s economy. While advertising is on the right track, BIDU’s non-advertising is also growing nicely; however, they are still in the phase of cash burn, including its AI business. In the long term, we believe BIDU’s AI and autonomous driving initiatives are on track to be successful.
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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