New Street Research - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) BABA FY4Q23 Results: Continued Investment in Users

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New Street Research

Jin Yoon

BABA FY4Q23 Results: Continued Investment in Users

What's new: Alibaba’s reported FY4Q23 top-line results were below consensus but above our expectations. Taobao will continue to invest to drive user growth, time spent and engagement on the platform. The company also announced a series of capital management planning including a full spinoff of the cloud unit in the next 12 months. We maintain our PT at USD150.

Analysts:
Jin Yoon

19/05/2023 1 EN

Underlying

Alibaba Group Holding Ltd. Sponsored ADR

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US01609W1027 Stuttgart Stock Exchange Cayman Islands

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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BABA FY4Q23 Results: Continued Investment in Users

Greater China 2H25 Market Strategy: A Big Beautiful Deal?

China Internet: 618 Festival – Evolving consumer trends and continued focus on value for money.

China Internet: JD’s new initiative in on-demand delivery is reshaping FD market dynamics.

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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