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BABA-W Opens 2.4% Lower; 2FQ Non-GAAP NP Slips ~72%, In Line
Recommend 28 Positive 44 Negative 24 |
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BABA-W (09988.HK) opened 2.4% lower this morning (26th) at HK$154, with 3.4201 million shares traded in the pre-market session, amounting to HK$527 million. Alibaba (BABA.US) slid 2.3% in the US overnight (25th), closing at US$157.01. BABA-W had announced after yesterday’s market close its second fiscal quarter results ending September, with net income attributable to ordinary shareholders at RMB20.99 billion, down 52.2% YoY; diluted EPS was RMB1.09, and diluted earnings per ADS were RMB8.75. Quarterly revenue was RMB247.795 billion, up 4.8% YoY, slightly above the upper limit of the forecast range of RMB236.229 billion to RMB247.652 billion from 16 brokers compiled by this website. Under non-GAAP, the second fiscal quarter net income reached RMB10.352 billion, down 71.7% YoY, meeting the forecast range of RMB8.238 billion to RMB11.2 billion from 8 brokers compiled by this website. Non-GAAP diluted earnings per share and per ADS were RMB0.55 and RMB4.36 respectively. Goldman Sachs stated that Alibaba's cloud business and capex in the second fiscal quarter beat expectations even with the slowdown in e-commerce growth, underpinning its investment thesis of AI-driven growth. The broker tweaked its adjusted net profit forecasts for Alibaba from 2026 to 2028, from a decrease of 12% to an increase of 4%, and trimmed its target price for H shares from HK$199 to HK$192, while maintaining a Buy rating. AAStocks Financial News |
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