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<Research>Nomura Expects Limited ST Financial Contribution from Baidu (BIDU.US)/ Uber (UBER.US) Co-op
Recommend 5 Positive 13 Negative 2 |
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Nomura released a research report predicting that BIDU-SW (09888.HK)(BIDU.US) will see its core business revenue, excluding iQIYI (IQ.US), decline by 3% YoY to RMB25.9 billion in 2Q25. This is believed to be dented by weak advertising revenue. BIDU-SW's 2Q25 search advertising revenue is estimated to drop by 15% YoY, mainly attributed to a decrease in the monetization capability of traditional search on the Group's accelerated boost for AI search. Although the Group has reached an autonomous driving collaboration with UBER (UBER.US), demonstrating its technological advantage, Nomura believed that the financial contribution from the partnership will take years to materialize. The broker lowered its 2025/ 2026 non-GAAP operating profit forecasts for BIDU-SW by 20%/ 18% each, and dropped its target price for BIDU-SW's US stock from US$95 to US$93, with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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