BIDU: Ad Environment Is Still Challenging For The Near-Term; 2020 Is An Investment Year For BIDU
BIDU will report 2Q20results on August 13th after the markets close followed by a 9:15pm EST conference call. We are cautious on China’sadvertising market in the near term. We believe the ad environment in2020 may be challenging for the company. In 2Q20, some of the traditionale-commerce advertising shifted away from traditional platforms to livestreaming to market their products. In 3Q20, the seasonal popular sectors oftravel, education and business services did not pick up normal growth. Thesemarket factors put pressure on BIDU.