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Alibaba Group Holding Rallies 8%+ as Quarterly CMR Hikes 9%, Beating Forecasts
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Alibaba Group Holding (BABA.US) shot up 8.1% to US$135.97 overnight (20th), and ticked up nearly 1% more in after-hours trading session. BABA-W (09988.HK) announced its results for the third fiscal quarter ended December 2024 after the market closed yesterday. Revenue was RMB280.154 billion, up 8% YoY. Net income was RMB48.945 billion, up 2.39 times YoY, higher than the upper limit of RMB39.826 billion projected by the 3 brokers summarized by our reporters. Quarterly diluted EPS was RMB2.55, and diluted earnings per ADS were RMB20.39. BABA-W's quarterly CMR rose 9% YoY, ahead of the expectations of JPMorgan/ the market of 6%/ 5%, JPMorgan released a research report saying. Taobao Tmall Group (TTG)'s EBITA grew 2% YoY, ending its YoY decline for 3 consecutive quarters. Its Cloud Group revenue YoY growth accelerated to 13%, while Cloud Group EBITA increased 33% YoY. Overall adjusted EPS rose 13% YoY, 3%/ 21% above the estimations of the broker/ the market. JPMorgan expected the market to react positively to the results, and kept rating at Overweight on BABA-W, with a target price of $120. AAStocks Financial News |
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