Baidu Gets Better Users Feedback on Gen AI Features, But Monetization Will Take Time -- Market Talk

Dow Jones11-22 17:14

0914 GMT - Baidu has improved user traction for its generative AI features but monetization will take time, HSBC analysts say in a research note. While users receiving generative AI search results are giving better feedback, such as spending more time on Baidu, the company's expansion of features has yet to translate into sizeable monetization, the analysts say. They cut topline estimates for 2024 and 2025 by 1% to factor in a more modest advertising recovery outlook. They keep a hold rating on the company's ADRs and cut the target price of to US$93.00 from US$100.00 after factoring in lower earnings estimates. ADRs last traded at US$81.63, while Baidu's Hong Kong-listed shares closed 8.6% lower at HK$76.65. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

November 22, 2024 04:14 ET (09:14 GMT)

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