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<Research>M Stanley: Baidu (BIDU.US) 3Q Rev. in Line, Earnings Slightly Beat
Recommend 15 Positive 23 Negative 19 |
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BIDU-SW (09888.HK) (BIDU.US)'s 3Q24 revenue fell 3% YoY, in line with the anticipations of Morgan Stanley and the market, while core revenue was flat, Morgan Stanley released a research report saying. Of which, core marketing revenue dropped 4.6%, while non-marketing revenue grew 12%, both in line with expectations. BIDU-SW's earnings for the period slightly beat forecast. BIDU-SW's core non-GAAP operating profit was flat, about 4% higher than the estimations of the broker and the market. Core operating margin was flat at 25.1%, beating projection by about 0.8 ppts. Therefore, Morgan Stanley currently rated BIDU-SW at Equalweight, with a target price of US$105 on its US stock. AAStocks Financial News |
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