百度集团-SW25Q1业绩前瞻:云服务承担业绩动力,期待后续AI改造提振在线营销

光大证券
29 Apr

一、业绩前瞻与核心观点百度集团-SW(9888。HK)2025年第一季度的业绩前瞻显示,公司总收入预计同比下降1.5%至310.4亿元人民币,其中百度核心收入同比增长1.4%至241.4亿元。尽管广告业务仍面临压力,但云服务和AI相关业务表现强劲,成为主要增长动力。报告指出,百度将持续投入资源研发AI技术,并通过接入内外部大模型优化搜索体验,探索个性化广告等商业化可能。二、在线营销业务现状与展望...

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