0212 GMT - Baidu's ad revenue could remain under pressure in 2H, Citi analysts say in a note. Amid the tech giant's fast AI search ramp up and muted ad-spending sentiment, ad revenue's drag could be bigger than Citi's previous expectations. The bank lowers Baidu's core ad revenue forecast by 6.1% for 2Q and 8.9% for 3Q. Given bigger negative impact from the higher-margin ad revenue, the analysts also lower Baidu's core operating profit estimates by 21% for 2Q and 24% for 3Q. Citi maintains a buy call on Baidu and raises its ADR target price to US$140.00 from US$138.00. ADRs last ended at US$86.32. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
July 16, 2025 22:12 ET (02:12 GMT)
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