New Street: BABA FY1Q23 Results - July Y-Y GMV Growth Outpace that of June
What's new: Alibaba’s reported FY1Q23 results were above consensus and our expectations. While YoY growth in July GMV performed better than that of June, visibility remains limited in the next few months amid weakness in macro. Under the current environment, the company would focus even more on cost control and continue to improve overall operating efficiency. We maintain our PT at USD150.Analysts:
Jin Yoon
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