中金发表报告指，百度(09888.HK) 去年第四季营收按年下降2%至341亿元人民币，超出市场预期2%。在云收入的带动下，百度核心收入按年增长1%至277亿元人民币，高于市场预期4%。Non-GAAP下，百度的核心经营溢利略微超出市场预期；净利润达67亿元人民币；净利润率为20%，明显超出市场预期。
该行认为，百度云业务受AI推动持续增长，核心广告业务面临压力，维持对其收入和Non-GAAP净利润预测，以及ADR和H股的目标价分别为99美元和96港元，维持“跑赢行业”评级。(ha/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-19 16:25。)
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