BIDU: Managed Page And Smart Mini Driving Better Traffic And Time Spend; Expect Better 3Q20 Results
BIDU will report 3Q20 results on November 16th after the markets close followed by an 8:15pm EST conference call. Based on our data and calculations, we believe BIDU’s 3Q20 net revenue is likely to be higher than consensus at RMB27,458M and our model at RMB27,238M. We believe BIDU is benefiting from the recovery in the ad sector, in addition to high adoption of its Managed Page and Smart Mini, which led to growth of BIDU mobile traffic and time spend in 3Q20. Furthermore, IQ’s subscribing business is likely to do better in 3Q20 mainly due to better ARPU and higher video views in 3Q20 compared to 2Q20.