Baidu Faces Headwinds from Regulatory Issues and Taxation

Tencent Retains Financial Leadership in Chinese Internet with Strong 4Q15 Results

Tencent's Multiple Platforms Deliver Key Advantages

Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<p>We recently reduced our numbers for <a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179">BIDU</a> on concerns about the impact of a recent issue with a military hospital on advertising. New regulations were imposed and we reduced our numbers to take a modest revenue decline from hospitals into account. However, it is now clear the impact has been more severe than expected. BIDU cut its guidance this week and held an investor call on Tuesday morning (Asia time). The stock was pummeled in the after-market, down over 5% before rallying somewhat in…</p>

We recently reduced our numbers for BIDU on concerns about the impact of a recent issue with a military hospital on advertising. New regulations were imposed and we reduced our numbers to take a modest revenue decline from hospitals into account. However, it is now clear the impact has been more severe than expected. BIDU cut its guidance this week and held an investor call on Tuesday morning (Asia time). The stock was pummeled in the after-market, down over 5% before rallying somewhat in…

BIDU: Advertising Headwinds Mount. Guidance Cut.