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<Research>M Stanley: Alibaba (BABA.US) 3FQ EBITA Misses; Rating Overweight Kept
Recommend 10 Positive 19 Negative 10 |
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BABA-W (09988.HK) marked a 2% YoY increase in total revenue to RMB284.8 billion for 3QFY26, which was broadly in line, Morgan Stanley said in a research report. CMR grew by 1% YoY, meeting expectations. Cloud revenue added 36% YoY, also in line, with external cloud revenue growth accelerating from 29% in 2Q to 35% in 3Q. AI-related revenue achieved triple-digit growth for ten straight quarters. Adjusted EBITA was RMB23.4 billion, a 57% YoY slump, falling short of the broker's forecast of RMB29.5 billion. Adjusted EBITA for China's e-commerce was RMB34.6 billion, a 43% YoY slide, 3% below the broker's expectation. Morgan Stanley maintained an Overweight rating on Alibaba (BABA.US) with a target price of USD180. AASTOCKS Financial News Website: www.aastocks.com |
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