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<Foresight>Brokers Expect BIDU-SW's 2Q Adj. NP to Slump 38%+ as AI Search Transformation Weighs on Ad Monetization
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BIDU-SW (09888.HK) is set to announce its 2Q25 results next Wednesday (20th). Given that the impact of its search business's AI transformation reduced its advertising revenue, brokers predicted BIDU-SW's core marketing income to fall more than 15% YoY, with operating profit margins also under pressure. According to the forecasts from 10 brokers as summarized by our reporters, BIDU-SW's 2Q25 non-GAAP net profit is estimated to range from RMB3.728 billion to RMB5.227 billion, down 29.3-49.6% YoY from RMB7.396 billion in the same period last year. The median of RMB4.568 billion marked a YoY decline of 38.2%. Broker│2Q25 non-GAAP NP Forecast (RMB)│YoY Change Haitong International│5.227 billion│-29.3% Nomura│4.991 billion│-32.5% Citi│4.821 billion│-34.8% Goldman Sachs│4.684 billion│-36.7% Morgan Stanley│4.578 billion│-38.1% CCBI│4.557 billion│-38.4% JPMorgan│4.1 billion│-44.6% China Renaissance│4.055 billion│-45.2% UBS│4.025 billion│-45.6% Daiwa│3.728 billion│-49.6% Calculated on BIDU-SW's 2Q24 non-GAAP net profit of RMB7.396 billion. AAStocks Financial News |
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