A broker preview of Alibaba's upcoming quarter notes that China e-commerce revenue trends are slightly better than the June quarter but profit is flat year-over-year, while cloud growth is expected at 50%+ with expanding margins. The broker highlights that cloud margin was revised up, which is a positive surprise, though cloud growth was not raised as some buy-side investors had hoped.
Alibaba's quarter is largely in line with expectations, but better cloud margins provide a modest positive offset to unrevised cloud growth.
Free preview — more China A-share & HK research · About Us · Legal & Privacy