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2026-05-15 13:53:39 BABA-W (09988.HK) reported revenue of RMB243.4 billion for the fourth fiscal quarter ended March, representing a YoY elevation of 2.9%, CICC said in its report. Excluding the impact of disposed businesses, revenue grew 11% YoY on a comparable basis. During the period, adjusted EBITA shed 84.4% YoY to RMB5.1 billion, below market expectations, in wake of heightened investment in large models during the Spring Festival period and the promotion of the Qwen App. Alibaba Cloud's growth accelerated, driven by MaaS, the report noted. In the latest fiscal quarter, cloud revenue lifted 38% YoY, of which revenue from external customers hiked 40%. The ARR of Alibaba Cloud's Bailian MaaS platform reached RMB8 billion, showing solid performance, and was expected to reach RMB30 billion by end-2026. CICC trimmed its revenue forecasts for FY2027-28 by 3-4%, but raised its non-GAAP net profit forecasts by 5-9%. The broker maintained an Outperform rating on BABA-W (09988.HK), with an H-share TP of HKD172, and kept the US-share TP of USD178 for Alibaba Group Holding Limited (BABA.US). ~ AASTOCKS Financial News Website: www.aastocks.com | |