Baidu's Ad Revenue Set to Weaken Further in 4Q -- Market Talk

Dow Jones10:31

0231 GMT - Baidu's advertisement revenue will likely drop further in 4Q, hurt by a challenging macroeconomic environment and continued weak ad demand, Nomura analysts write in a note. The Chinese search-engine company has included more AI-generated content in its results, which have yet to be monetized, they note. Nomura expects ad revenue to fall 9% on year in 4Q. It maintains a buy rating on the U.S.-listed company but cuts the target price to $104.00 from $110.00. Baidu's ADRs last closed at $80.33. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

November 24, 2024 21:31 ET (02:31 GMT)

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