New Street Research - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) New Street: BABA FY2Q23 Results - Visibility Remains Limited as Covid and Macro Concerns Continue

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New Street Research

Jin Yoon

New Street: BABA FY2Q23 Results - Visibility Remains Limited as Covid and Macro Concerns Continue

What's new: Alibaba’s reported FY2Q23 top-line results were below consensus and our expectations, while margins continue to improve YoY. Visibility remains limited in the near-term amid macro and covid uncertainties, The company remains focused on cost controls and improving overall operating efficiency. We maintain our PT at USD150.

Analysts:
Jin Yoon

21/11/2022 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
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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 Results - Visibility Remains Limited as Covid and Macro Concerns Continue

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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