百度：Accelerating Gen AI-empowered business transformation

M N 17 May 2024 CMB International Global Markets | Equity Research | Company Update Baidu (BIDU US) Accelerating Gen AI-empowered business transformation Baidu announced (16 May) its 1Q24 results: revenue was RMB31.5bn, up 1.2% Target Price US$183.00 YoY, and was in line with Bloomberg consensus. Non-GAAP net income of Baidu (Previous TP US$183.20) Core was RMB6.6bn, better than consensus at RMB5.1bn, thanks to better-than- Up/Downside 65.2% expected cost control. Management highlighted that AI-related ads ...