New Street Research - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) New Street: BABA FY2Q23 Preview - Margin Upside Despite Nudging Down Top Line Estimates

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New Street Research

Jin Yoon

New Street: BABA FY2Q23 Preview - Margin Upside Despite Nudging Down Top Line Estimates

What’s New: We nudge down CY2H top line estimates to reflect gradual recovery in the overall demand environment but inch up CY2H margins amid continued cost controls. In this note, we highlight the latest update on the business including near term outlook and expectations heading into Singles Day.

Analysts:
Jin Yoon

30/09/2022 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.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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New Street: BABA FY2Q23 Preview - Margin Upside Despite Nudging Down Top Line Estimates

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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