0337 GMT - Baidu is likely to deliver 4Q results in line with expectations, according to Deutsche Bank Research analyst Han Zhang in a commentary. Advertising revenue should continue to see challenges from the macroeconomy and the transition in traffic from traditional search to generative AI search, the analyst says. Cloud revenue, on the other hand, should continue to gain traction, driven by a rising contribution from its generative AI business, Zhang adds. Advertising revenue could see a year-on-year turnaround in the 2H as the monetization of its generative AI traffic kicks off, as well as an easier comparison, the analyst notes. DB keeps a hold rating, with a target price of HK$93.00. Shares are 3.9% higher at HK$81.75. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 22:37 ET (03:37 GMT)
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