Baidu Has An 'Increasing Gen-AI Centric Revenue Mix': Analysts Look Into Q1 Results, Outlook
Portfolio Pulse from Priya Nigam
Baidu Inc (NASDAQ:BIDU) shares fell despite better-than-expected Q1 results. Analysts from Goldman Sachs, Mizuho Securities, and Benchmark maintained Buy ratings but had mixed views on future performance. Baidu's shift towards a Gen-AI centric revenue mix and ongoing share repurchase program were highlighted.
May 17, 2024 | 4:20 pm
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Baidu's Q1 results exceeded expectations in terms of EBIT and net profit, but shares fell due to mixed full-year guidance and structural transition towards a Gen-AI centric revenue mix. Analysts maintained Buy ratings but had varied price targets.
Despite strong Q1 results, Baidu's shares fell due to mixed full-year guidance and structural changes towards a Gen-AI centric revenue mix. Analysts maintained Buy ratings but had different price targets, indicating uncertainty about short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100