Baidu is scheduled to release its third-quarter 2025 financial results on November 18, before the U.S. market opens. Analysts anticipate a challenging quarter, with consensus estimates pointing to a significant year-over-year decline in both revenue and earnings. Projections suggest a revenue of approximately $4.33 billion to $4.35 billion, a decrease of about 9% to 9.5% from the previous year. Adjusted earnings per share (EPS) are expected to be around $1.08 to $1.18, a sharp drop from the prior year. The primary concern for investors is the expected continued weakness in Baidu's core online marketing business, which is its main revenue driver. This segment is projected to be under pressure due to the challenging macroeconomic environment in China. Conversely, the company's non-online marketing revenue, particularly its AI cloud business, is anticipated to be a bright spot, with analysts looking for sustained growth momentum in this area. Investors and analysts will be closely watching for management's commentary on the performance of the AI cloud business and any signs of stabilization in the advertising sector. Future guidance will be critical in shaping the market's reaction, as it will provide insight into whether Baidu's heavy investments in AI are beginning to offset the declines in its traditional revenue streams.