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
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Baidu (BIDU), HK 9888; 02 (Nov 22 - Dec 26)
Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 2:42 pm
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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
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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
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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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Re: Baidu (BIDU); HK 9888
by winston » Tue Oct 31, 2023 3:00 pm
vested
G Sachs Drops BIDU-SW (09888.HK) TP to $177, Lowers 3Q Rev. Forecast
2023/10/19
Goldman Sachs issued a research report, lowering its revenue forecasts for BIDU-SW (09888.HK) & (BIDU.US) 's online marketing and AI cloud segments ahead of the company's 3Q results announcement in November.
The broker also revised its operating margin forecasts for BIDU to take into account delays in advertising budgets and weakness in enterprise and government cloud spending, while also reflecting incremental training and marketing spending on Ernie Foundation Model 4.0.
Goldman expected the market's recent focus on BIDU's slowing core growth and margins to overshadow the company's technological innovations, such as the launch of Ernie Foundation Model 4.0, as well as the progress of monetisation for the Foundation Model among consumers and businesses.
However, BIDU's 3Q performance was modest, and the broker believed the company would recover in 4Q with improvements in its advertising and cloud businesses.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
In the medium term, the broker believed BIDU has accumulated enough advanced GPUs for large language model (LLM) training, and that Ernie Foundation Model 4.0 is ready for commercialisation.
Goldman noted that BIDU's current price is equivalent to 12x 2023 forecasted P/E, with net cash-to-market capitalisation over 30%, and risk-reward profile remaining good.
The broker cut its 2023-2025 earnings forecast by 3% and its revenue forecast by 2% to 4% due to a downward revision of its revenue forecast and an increase in its investment in the Ernie Foundation Model.
Goldman Sachs lowered BIDU's H-share target price from HK$193 to HK$177, while its US-share target price was also trimmed from US$197 to US$181.
The broker maintained a Buy rating on BIDU and kept its on the Conviction Buy List.
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
G Sachs Drops BIDU-SW (09888.HK) TP to $177, Lowers 3Q Rev. Forecast
2023/10/19
Goldman Sachs issued a research report, lowering its revenue forecasts for BIDU-SW (09888.HK) & (BIDU.US) 's online marketing and AI cloud segments ahead of the company's 3Q results announcement in November.
The broker also revised its operating margin forecasts for BIDU to take into account delays in advertising budgets and weakness in enterprise and government cloud spending, while also reflecting incremental training and marketing spending on Ernie Foundation Model 4.0.
Goldman expected the market's recent focus on BIDU's slowing core growth and margins to overshadow the company's technological innovations, such as the launch of Ernie Foundation Model 4.0, as well as the progress of monetisation for the Foundation Model among consumers and businesses.
However, BIDU's 3Q performance was modest, and the broker believed the company would recover in 4Q with improvements in its advertising and cloud businesses.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
In the medium term, the broker believed BIDU has accumulated enough advanced GPUs for large language model (LLM) training, and that Ernie Foundation Model 4.0 is ready for commercialisation.
Goldman noted that BIDU's current price is equivalent to 12x 2023 forecasted P/E, with net cash-to-market capitalisation over 30%, and risk-reward profile remaining good.
The broker cut its 2023-2025 earnings forecast by 3% and its revenue forecast by 2% to 4% due to a downward revision of its revenue forecast and an increase in its investment in the Ernie Foundation Model.
Goldman Sachs lowered BIDU's H-share target price from HK$193 to HK$177, while its US-share target price was also trimmed from US$197 to US$181.
The broker maintained a Buy rating on BIDU and kept its on the Conviction Buy List.
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 3:02 pm
not vested
M Stanley Expects Baidu 3Q Core Rev. to Rise 4% YoY, Non-GAAP Core OP to Slide 10%
2023/10/19
Morgan Stanley projected the core revenue and core advertising revenue of Baidu (BIDU.US) to rise by 4% and 5% YoY, respectively, in 3Q23, slightly shy of the broker's forecast of a high single-digit growth, which was primarily due to weak seasonality and slower-than-expected SME recovery.
The non-GAAP core operating profit and non-GAAP OPM of the period, meanwhile, were predicted to slide by 10% and 3.5 ppts YoY, to RMB6 billion and 22.8%, respectively.
Morgan Stanley trimmed the 2023-24E core revenue for Baidu by 2-4%, and cut the assumptions on non-GAAP operating profit by 6-11%, to reflect near-term headwinds.
The US stock target price for Baidu was axed from USD190 to USD170, with an Overweight rating.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
M Stanley Expects Baidu 3Q Core Rev. to Rise 4% YoY, Non-GAAP Core OP to Slide 10%
2023/10/19
Morgan Stanley projected the core revenue and core advertising revenue of Baidu (BIDU.US) to rise by 4% and 5% YoY, respectively, in 3Q23, slightly shy of the broker's forecast of a high single-digit growth, which was primarily due to weak seasonality and slower-than-expected SME recovery.
The non-GAAP core operating profit and non-GAAP OPM of the period, meanwhile, were predicted to slide by 10% and 3.5 ppts YoY, to RMB6 billion and 22.8%, respectively.
Morgan Stanley trimmed the 2023-24E core revenue for Baidu by 2-4%, and cut the assumptions on non-GAAP operating profit by 6-11%, to reflect near-term headwinds.
The US stock target price for Baidu was axed from USD190 to USD170, with an Overweight rating.
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 3:05 pm
vested
Jefferies Trims BIDU-SW (09888.HK) TP to $205, Forecasts 3Q Core Rev. to Grow 4.6% YoY
2023/10/19
Given factors including the weakness in BIDU-SW (09888.HK)'s e-commerce business segment, higher base for online advertising and enervated performance in artificial intelligence cloud, Jefferies maintained its forecasts for the non-GAAP operating profit for the group.
The core revenue of BIDU-SW was forecast to grow by about 4.6% YoY to RMB26.4 billion in the third quarter.
By market segments, the core online marketing revenue should increase by about 5%, while the revenue of Baidu AI Cloud is expected to dip by 3% YoY to roughly RMB4.4 billion, owing to the lower-than-anticipated revenue from transportation sector
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
The rating on the stock was kept at Buy, with its target price cut from $209 to $205.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Jefferies Trims BIDU-SW (09888.HK) TP to $205, Forecasts 3Q Core Rev. to Grow 4.6% YoY
2023/10/19
Given factors including the weakness in BIDU-SW (09888.HK)'s e-commerce business segment, higher base for online advertising and enervated performance in artificial intelligence cloud, Jefferies maintained its forecasts for the non-GAAP operating profit for the group.
The core revenue of BIDU-SW was forecast to grow by about 4.6% YoY to RMB26.4 billion in the third quarter.
By market segments, the core online marketing revenue should increase by about 5%, while the revenue of Baidu AI Cloud is expected to dip by 3% YoY to roughly RMB4.4 billion, owing to the lower-than-anticipated revenue from transportation sector
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
The rating on the stock was kept at Buy, with its target price cut from $209 to $205.
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 3:07 pm
vested
HSBC Global Research Cuts BIDU-SW (09888.HK) TP to $156 to Reflect FX Rate Forecast Update
2023/10/19
HSBC Global Research issued a research report saying that BIDU-SW (09888.HK) 's advertising and cloud business performance were dragged down by macroeconomic and other factors.
HSBC Global Research lowered its revenue forecast for 2023 to 2025 by 2% to 6%.
In addition to the impact of the economic environment, the search engine combined with AI applications will take time to implement, which may drag down the short-term revenue of the advertising business.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
For cloud business, despite the increase in demand from individuals and corporations, the decrease in government-related expenses will undermine revenue performance.
However, as the adjustment of the weighting of the revenue mix will buffer margins, HSBC Global Research only lowered its earning forecast for the same period by 2% to 3%.
In response to its adjustment on exchange rate forecast, HSBC Global Research cut its target price on BIDU-SW's H share from $163.8 to $156, with rating kept at Buy.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
HSBC Global Research Cuts BIDU-SW (09888.HK) TP to $156 to Reflect FX Rate Forecast Update
2023/10/19
HSBC Global Research issued a research report saying that BIDU-SW (09888.HK) 's advertising and cloud business performance were dragged down by macroeconomic and other factors.
HSBC Global Research lowered its revenue forecast for 2023 to 2025 by 2% to 6%.
In addition to the impact of the economic environment, the search engine combined with AI applications will take time to implement, which may drag down the short-term revenue of the advertising business.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
For cloud business, despite the increase in demand from individuals and corporations, the decrease in government-related expenses will undermine revenue performance.
However, as the adjustment of the weighting of the revenue mix will buffer margins, HSBC Global Research only lowered its earning forecast for the same period by 2% to 3%.
In response to its adjustment on exchange rate forecast, HSBC Global Research cut its target price on BIDU-SW's H share from $163.8 to $156, with rating kept at Buy.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
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 3:10 pm
vested
Citi Trims Baidu, Inc. (BIDU.US) TP to US$178, Lowers 2023-25 Rev & Non-GAAP Profit Forecasts
2023/10/19
Citi Research issued a research report saying that BIDU-SW (09888.HK) (BIDU.US) will release its 3Q23 results in mid-to-end November.
Taking into account seasonal factors and a slowdown in the recovery of SMEs' advertising sentiment, Citi Research conservatively lowered its 3Q23 revenue forecast for BIDU-SW's core advertisement business by 0.9%, which means it is expected to grow by 4.7% YoY to RMB19.6 billion.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Overall net income is expected to grow by 5.3% YoY to RMB34.25 billion, and non-GAAP profit per ADS is expected to reach RMB15.4.
Looking ahead to 4Q23, Citi Research longed for a stronger YoY growth in advertising and cloud revenues likely to be brought by a lower base.
However, Citi Research still conservatively lowered its advertising and cloud revenue forecasts by 1.8% and 4.2%.
Citi Research expected overall net income and non-GAAP profit per ADS to reach RMB35.98 billion and RMB16.31 respectively, and anticipated that Ernie 4.0 will be adopted by more enterprises.
Citi Research kept rating at Buy rating on Baidu US stocks and trimmed its target price from US$182 to US$178.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Citi Research also lowered its overall revenue forecasts for BIDU-SW by 1%, 1.6% and 2.3% for 2023 to 2025, and non-GAAP net profit by 0.7%, 1.8% and 2.4%, reflecting weaker revenue from core advertising business and a negative headwind in cloud business, which was partially offset by the contribution from iQIYI, Inc. (IQ.US) .
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Citi Trims Baidu, Inc. (BIDU.US) TP to US$178, Lowers 2023-25 Rev & Non-GAAP Profit Forecasts
2023/10/19
Citi Research issued a research report saying that BIDU-SW (09888.HK) (BIDU.US) will release its 3Q23 results in mid-to-end November.
Taking into account seasonal factors and a slowdown in the recovery of SMEs' advertising sentiment, Citi Research conservatively lowered its 3Q23 revenue forecast for BIDU-SW's core advertisement business by 0.9%, which means it is expected to grow by 4.7% YoY to RMB19.6 billion.
Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B
Overall net income is expected to grow by 5.3% YoY to RMB34.25 billion, and non-GAAP profit per ADS is expected to reach RMB15.4.
Looking ahead to 4Q23, Citi Research longed for a stronger YoY growth in advertising and cloud revenues likely to be brought by a lower base.
However, Citi Research still conservatively lowered its advertising and cloud revenue forecasts by 1.8% and 4.2%.
Citi Research expected overall net income and non-GAAP profit per ADS to reach RMB35.98 billion and RMB16.31 respectively, and anticipated that Ernie 4.0 will be adopted by more enterprises.
Citi Research kept rating at Buy rating on Baidu US stocks and trimmed its target price from US$182 to US$178.
Related News: BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B
Citi Research also lowered its overall revenue forecasts for BIDU-SW by 1%, 1.6% and 2.3% for 2023 to 2025, and non-GAAP net profit by 0.7%, 1.8% and 2.4%, reflecting weaker revenue from core advertising business and a negative headwind in cloud business, which was partially offset by the contribution from iQIYI, Inc. (IQ.US) .
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
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