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<Research>BOCI Lifts Baidu (BIDU.US) TP to USD137; 3Q Results in Line
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BIDU-SW (09888.HK)'s 3Q25 results were in line with expectations, according to BOCI's research report. The company's total revenue decreased by 7% YoY in 3Q25, 1% higher than market forecasts and aligning with the broker's expectation. Its advertising revenue receded by 18% YoY, while non-advertising revenue increased by 21% YoY, resulting in a 7% YoY decline in its core revenue. The newly disclosed AI-driven business revenue surged by 50% YoY to RMB9.6 billion, demonstrating BIDU-SW's achievements in AI commercialization. The adjusted operating profit margin of 7.1% also met expectations. BOCI kept a Buy rating on Baidu (BIDU.US) and raised its target price from USD133 to USD137. AAStocks Financial News |
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