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BIDU-SW Opens 2.2% Higher; Citi Hails Forecast-Beating Results for 3Q
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BIDU-SW (09888.HK) opened 2.24% higher this morning (19th) at HKD113.9, with a pre-market trading volume of 430,700 shares, involving HKD48.9438 million. The company announced its 3Q25 results after the market closed yesterday. Its total revenue dropped by 7.1% YoY to RMB31.174 billion. Of which, its core revenue slipped 7% YoY to RMB24.659 billion. Weighed by impairment losses on its core asset group, BIDU-SW's long-term asset impairments reached around RMB16.2 billion during the period. It recorded a net loss to Baidu of RMB11.232 billion, compared to a net income of RMB7.632 billion in the same period last year and the forecasted net income of RMB1.038-2.136 billion from four brokers as summarized by our reporters. Under non-GAAP, BIDU-SW's 3Q25 net income to Baidu sank by 35.9% YoY to RMB3.77 billion, above the forecasted range of RMB1.831-3.116 billion from eight brokers as summarized by our reporters. Citi said BIDU-SW delivered forecast-beating results for 3Q25 against a backdrop of low market forecasts. Although its online marketing services revenue receded YoY, it was partially offset by growth in cloud revenue. The broker raised its target price for Baidu (BIDU.US) from USD166 to USD181 and kept the Buy rating unchanged. AAStocks Financial News |
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