vested
Baidu Inc (9888 HK)
2Q23: Strong Earnings Beat Anchored By Solid Ad And Cloud Recovery
Baidu’s 2Q23 results came in with strong beat on profits.
Revenue grew 15% yoy to Rmb34b, 2.3% above the street’s estimate.
Gross margin expanded 3.7ppt yoy to 52.5%, above consensus expectation.
Non-GAAP operating profit was Rmb7.3b, up 33% yoy, while non-GAAP operating margin came in at 22%, beating our estimate.
Non-GAAP net profit improved 44% yoy to Rmb8b as a result of operating leverage, 38% above
consensus estimate.
Maintain BUY. Target price: HK$192.00 (US$198.00).
Source: UOBKH
https://research.uobkayhian.com/content ... d0c217236d
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Baidu (BIDU); HK 9888
Re: Baidu (BIDU); HK 9888
by winston » Wed Aug 23, 2023 9:23 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Baidu (BIDU); HK 9888
by winston » Thu Aug 24, 2023 10:42 am
vested
Baidu Inc (9888 HK / BIDU US) - Steady in 3Q23, awaiting regulatory approval for AI roll-out
We are positive on Baidu’s outlook, seeing several tailwinds for the company in FY23:
(i) post-Covid economic recovery benefiting Baidu’s advertising verticals,
(ii) relatively low revenue base in FY22 and low expectations for FY23 revenue growth,
(iii) upside to earnings on monetisation of ERNIE bot, and
(iv) relatively more attractive (lower) valuations compared to peers.
We believe Baidu is uniquely positioned to benefit directly from the growing demand for generative AI technologies, by having significant exposure to both digital advertising and cloud infrastructure and computing businesses. BUY.
Source: OCBC
Baidu Inc (9888 HK / BIDU US) - Steady in 3Q23, awaiting regulatory approval for AI roll-out
We are positive on Baidu’s outlook, seeing several tailwinds for the company in FY23:
(i) post-Covid economic recovery benefiting Baidu’s advertising verticals,
(ii) relatively low revenue base in FY22 and low expectations for FY23 revenue growth,
(iii) upside to earnings on monetisation of ERNIE bot, and
(iv) relatively more attractive (lower) valuations compared to peers.
We believe Baidu is uniquely positioned to benefit directly from the growing demand for generative AI technologies, by having significant exposure to both digital advertising and cloud infrastructure and computing businesses. BUY.
Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Baidu (BIDU); HK 9888
by winston » Thu Aug 24, 2023 11:12 am
vested
Earnings Alert: 2Q23 earnings beat market expectations by 30%, ad growth momentum to remain robust in 2H23
2Q23 earnings beat market expectations by 30%, supported by stronger online marketing revenue growth of 15%
Ad growth momentum remains robust in 2H23 driven by increased ad demand from key offline verticals
Revised up FY23F-FY25F earnings by 16%/13%/9%, factoring in higher ad growth and improved operating efficiency
Maintain BUY with higher TPs of HK$204/US$206
We roll forward our valuation base to FY24F and derive our H-share TP is based on SOTP valuation:
(1) Baidu Core: 12x on FY24F non-GAAP net profit (HK$147);
(2) cloud and autonomous driving; 3x FY24F P/S (HK$37) and
(3) market value of major listed investees (HK$20).
Source: DBS
https://www.dbs.com/insightsdirect/comp ... ecid=15734
Earnings Alert: 2Q23 earnings beat market expectations by 30%, ad growth momentum to remain robust in 2H23
2Q23 earnings beat market expectations by 30%, supported by stronger online marketing revenue growth of 15%
Ad growth momentum remains robust in 2H23 driven by increased ad demand from key offline verticals
Revised up FY23F-FY25F earnings by 16%/13%/9%, factoring in higher ad growth and improved operating efficiency
Maintain BUY with higher TPs of HK$204/US$206
We roll forward our valuation base to FY24F and derive our H-share TP is based on SOTP valuation:
(1) Baidu Core: 12x on FY24F non-GAAP net profit (HK$147);
(2) cloud and autonomous driving; 3x FY24F P/S (HK$37) and
(3) market value of major listed investees (HK$20).
Source: DBS
https://www.dbs.com/insightsdirect/comp ... ecid=15734
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Re: Baidu (BIDU); HK 9888
by winston » Wed Oct 18, 2023 6:58 am
vested
BIDU-SW's Apollo Go Provides Total of Over 4M Times of Services
BIDU-SW (09888.HK) 0.000 (0.000%)'s self-driving mobility service platform "Apollo Go" has so far provided more than 4 million times of services and has become the world's largest self-driving mobility service provider, as the company's founder, chairman cum CEO Robin Li revealed at the Baidu World Congress 2023.
He said that future AI native applications must be multimodal, viewing that unmanned driving is a typical application of visual macro-models to reconstruct the physical world.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
BIDU-SW's Apollo Go Provides Total of Over 4M Times of Services
BIDU-SW (09888.HK) 0.000 (0.000%)'s self-driving mobility service platform "Apollo Go" has so far provided more than 4 million times of services and has become the world's largest self-driving mobility service provider, as the company's founder, chairman cum CEO Robin Li revealed at the Baidu World Congress 2023.
He said that future AI native applications must be multimodal, viewing that unmanned driving is a typical application of visual macro-models to reconstruct the physical world.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:40 pm
vested
BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
2023/10/24
BOCOMI issued a research report expecting Baidu, Inc. (BIDU.US)'s core business to be under pressure in 3Q23, and to regain growth momentum in 4Q23.
BOCOMI expected Baidu's 3Q23 core revenue to increase by 5% YoY to RMB26.4 billion, as compared with its previous estimation of a 12% increase.
The decreased estimation is mainly due to the dull season for e-commerce advertisements and soft demand for intelligent transportation projects.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Adjusted operating profit is expected to be RMB5.9 billion, corresponding to a profit margin of 22%, down about 3 ppts, mainly due to the slowdown in advertising revenue growth and the increase in AI-related research and development expenses.
BOCOMI cut its target price on Baidu, Inc. from US$170 to US$166, and its target price on BBIDU-SW (09888.HK) from $165 to $161.
Baidu's core business is expected to continue to have good long-term growth prospects under the continuous improvement of Ernie 4.0 and product capabilities.
The current price is correspond to the 10x P/E ratio in 2024. BOCOMI kept rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
2023/10/24
BOCOMI issued a research report expecting Baidu, Inc. (BIDU.US)'s core business to be under pressure in 3Q23, and to regain growth momentum in 4Q23.
BOCOMI expected Baidu's 3Q23 core revenue to increase by 5% YoY to RMB26.4 billion, as compared with its previous estimation of a 12% increase.
The decreased estimation is mainly due to the dull season for e-commerce advertisements and soft demand for intelligent transportation projects.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Adjusted operating profit is expected to be RMB5.9 billion, corresponding to a profit margin of 22%, down about 3 ppts, mainly due to the slowdown in advertising revenue growth and the increase in AI-related research and development expenses.
BOCOMI cut its target price on Baidu, Inc. from US$170 to US$166, and its target price on BBIDU-SW (09888.HK) from $165 to $161.
Baidu's core business is expected to continue to have good long-term growth prospects under the continuous improvement of Ernie 4.0 and product capabilities.
The current price is correspond to the 10x P/E ratio in 2024. BOCOMI kept rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:42 pm
vested
CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
2023/10/24
CITIC Securities forecast the 3Q23 results of BIDU-SW (09888.HK) to reflect short-term headwinds from the subdued macroeconomic revival and softer consumption.
Overall, the company's revenue in 3Q23 was predicted to burgeoned 5% YoY to RMB34.1 billion, with a non-GAAP net profit of RMB6.1 billion.
CITIC Securities contended that the short-term headwinds will not alter BIDU-SW's growth outlook in medium- to long-term.
The group's advertising and cloud-computing businesses should continue to benefit from the enhancement in the firm's AI model capability, expansion of application scenarios and progress in commercialization.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Given the current progress in commercialization and business recuperation for the company, the 2023-25E revenue were adjusted to RMB135.5 billion / RMB146.5 billion/ RMB157.2 billion, and the 2023-25E non-GAAP net profit were adjusted to RMB26.5 billion/ RMB27.6 billion/ RMB29.8 billion.
The ratings on the H-shares and US shares of BIDU-SW were set at Buy, with a respective target price of $162 and USD165.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
2023/10/24
CITIC Securities forecast the 3Q23 results of BIDU-SW (09888.HK) to reflect short-term headwinds from the subdued macroeconomic revival and softer consumption.
Overall, the company's revenue in 3Q23 was predicted to burgeoned 5% YoY to RMB34.1 billion, with a non-GAAP net profit of RMB6.1 billion.
CITIC Securities contended that the short-term headwinds will not alter BIDU-SW's growth outlook in medium- to long-term.
The group's advertising and cloud-computing businesses should continue to benefit from the enhancement in the firm's AI model capability, expansion of application scenarios and progress in commercialization.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Given the current progress in commercialization and business recuperation for the company, the 2023-25E revenue were adjusted to RMB135.5 billion / RMB146.5 billion/ RMB157.2 billion, and the 2023-25E non-GAAP net profit were adjusted to RMB26.5 billion/ RMB27.6 billion/ RMB29.8 billion.
The ratings on the H-shares and US shares of BIDU-SW were set at Buy, with a respective target price of $162 and USD165.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:46 pm
vested
CLSA Cuts BIDU-SW (09888.HK) TP to $170, Trims 2023/24 Adj. NP Forecast
2023/10/20
BIDU-SW (09888.HK)'s core revenue is expected to increase by 4.2% YoY to RMB26.3 billion in 3Q23, CLSA commented in a research report.
The slowdown of growth is attributed to the negative impact on offline business due to the extreme weather in China, as well as weak e-commerce sales, which have put pressure on demand for online advertisements.
In addition, the Group's cloud-based business revenue could also decline YoY as a result of fewer intelligent transport projects due to fiscal pressure on local governments.
Adjusted EBITDA may fall by about 6% YoY.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
However, CLSA said that with the gradual recovery of the economy, the Double 11 shopping festival and the low base effect, BIDU's revenue growth in 4Q23 may rebound to a 10% YoY increase.
The broker dropped its 2023 and 2024 adjusted net profit forecasts by 2% and 3% respectively.
The broker cut its target price from $184 to $170 and maintained its Buy rating.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
CLSA Cuts BIDU-SW (09888.HK) TP to $170, Trims 2023/24 Adj. NP Forecast
2023/10/20
BIDU-SW (09888.HK)'s core revenue is expected to increase by 4.2% YoY to RMB26.3 billion in 3Q23, CLSA commented in a research report.
The slowdown of growth is attributed to the negative impact on offline business due to the extreme weather in China, as well as weak e-commerce sales, which have put pressure on demand for online advertisements.
In addition, the Group's cloud-based business revenue could also decline YoY as a result of fewer intelligent transport projects due to fiscal pressure on local governments.
Adjusted EBITDA may fall by about 6% YoY.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
However, CLSA said that with the gradual recovery of the economy, the Double 11 shopping festival and the low base effect, BIDU's revenue growth in 4Q23 may rebound to a 10% YoY increase.
The broker dropped its 2023 and 2024 adjusted net profit forecasts by 2% and 3% respectively.
The broker cut its target price from $184 to $170 and maintained its Buy rating.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:50 pm
vested
JPM Revises Down BIDU-SW (09888.HK) TP to $180, Rating Kept Overweight
2023/10/20
JPMorgan said in a report that the share price of BIDU-SW (09888.HK) underperformed the KWEB by 8 ppts over the past month, primarily owing to investors turning more cautious on the cyclical impact on the group's core advertising business, especially given the macroeconomic weakness in 3Q23.
Despite the sustained recuperation of offline verticals, JPMorgan forecast near-term downside risk to the share price of BIDU-SW, due to the soft e-commerce demand in mainland China over 3Q23, which could result in estimate cuts prior to the 3Q23 print.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
The short-term catalysts include incremental policy stimulus to drive consumption revival, and disclosure of AI-generative content (AIGC) product adoption and commercialization.
The rating on BIDU-SW was kept at Overweight, with its target price chopped from $195 to $180.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
JPM Revises Down BIDU-SW (09888.HK) TP to $180, Rating Kept Overweight
2023/10/20
JPMorgan said in a report that the share price of BIDU-SW (09888.HK) underperformed the KWEB by 8 ppts over the past month, primarily owing to investors turning more cautious on the cyclical impact on the group's core advertising business, especially given the macroeconomic weakness in 3Q23.
Despite the sustained recuperation of offline verticals, JPMorgan forecast near-term downside risk to the share price of BIDU-SW, due to the soft e-commerce demand in mainland China over 3Q23, which could result in estimate cuts prior to the 3Q23 print.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
The short-term catalysts include incremental policy stimulus to drive consumption revival, and disclosure of AI-generative content (AIGC) product adoption and commercialization.
The rating on BIDU-SW was kept at Overweight, with its target price chopped from $195 to $180.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:52 pm
not vested
Daiwa Cuts BIDU-SW (09888.HK) TP to $163, Trims 2023-25 Rev./ Earning Forecasts
2023/10/20
Daiwa issued a research report expecting BIDU-SW (09888.HK)'s core marketing business to see a slower recovery in 3Q23 to 4Q23, due to tighter advertising expenditure in areas such as e-commerce and franchises.
Daiwa trimmed its FY2023 to FY2025 revenue forecasts by 2% to 3% and earnings forecasts by 3% to 7%, due to slow recovery in marketing and government cloud demand.
Daiwa reiterated rating at Buy and cut its target price from $183 to $163.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Daiwa Cuts BIDU-SW (09888.HK) TP to $163, Trims 2023-25 Rev./ Earning Forecasts
2023/10/20
Daiwa issued a research report expecting BIDU-SW (09888.HK)'s core marketing business to see a slower recovery in 3Q23 to 4Q23, due to tighter advertising expenditure in areas such as e-commerce and franchises.
Daiwa trimmed its FY2023 to FY2025 revenue forecasts by 2% to 3% and earnings forecasts by 3% to 7%, due to slow recovery in marketing and government cloud demand.
Daiwa reiterated rating at Buy and cut its target price from $183 to $163.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:55 pm
vested
Nomura Axes Baidu, Inc. (BIDU.US) TP to US$135, Expects 3Q23 Results to Miss
2023/10/19
Nomura released a research report expecting BIDU-SW (09888.HK)'s overall results to miss market's expectation dragged down by its weak 3Q23 revenue from advertising and cloud business.
Nomura predicted that quarterly revenue will grow by 4% YoY to RMB34 billion, which is 4% lower than the market's general forecast.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Nomura kept rating at Neutral on Baidu's US shares and axed its target price from US$147 to US$135.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Nomura Axes Baidu, Inc. (BIDU.US) TP to US$135, Expects 3Q23 Results to Miss
2023/10/19
Nomura released a research report expecting BIDU-SW (09888.HK)'s overall results to miss market's expectation dragged down by its weak 3Q23 revenue from advertising and cloud business.
Nomura predicted that quarterly revenue will grow by 4% YoY to RMB34 billion, which is 4% lower than the market's general forecast.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Nomura kept rating at Neutral on Baidu's US shares and axed its target price from US$147 to US$135.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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