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<Research>CLSA Expects Alibaba (BABA.US) 2FQ Earnings to Fall Further, But Shall Start Improving in 3FQ
Recommend 46 Positive 68 Negative 33 |
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BABA-W (09988.HK) (BABA.US) will announce its results for the second fiscal quarter ended September and 1HFY2025 in mid-November. CLSA expected its total revenue to grow 4.8% YoY to RMB235.5 billion, with CMR increasing 2% YoY. The broker estimated the platform's GMV to rise by around 6% YoY. Weighed down by increased investment in Taobao Tmall Group (TTG) and its international businesses, CLSA anticipated that the Group's adjusted EBITA will fall by 5% YoY to RMB40.7 billion. However, CLSA projected a series of measures to enhance user experience and protect merchants will gradually take effect, and believed that BABA-W's revenue and profitability will improve in the third fiscal quarter ending December, while share buybacks and inclusion in the Stock Connect will bring support to its share price. Therefore, the broker kept its target price for Alibaba Group Holding Limited (BABA.US) at US$125, with rating reiterated at Outperform. AAStocks Financial News |
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