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Moo Earnings wrote a post · Aug 8, 2022 11:09

Alibaba Q1 FY23 Earnings Highlights

BABA earnings beat estimates, whereas revenue declines since IPO
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Alibaba Q1 FY23 Earnings Highlights
Alibaba Q1 FY23 Earnings Highlights
KEY Figures:
● Revenue was $30,689 million and declined 0.1% YoY mainly due to the softness in China commerce segment.
● Non-GAAP net income was $4,517 million, a decrease of 30% YoY, primarily due to the decrease in results of equity method investees and a decrease in adjusted EBITA.
● Net cash provided by operating activities was $5,057, an increase of 1% YoY. Free cash flow, a non-GAAP measurement of liquidity, was $3,310 million, an increase of 7% compared to the Q1 2021.
● For the $25B stock buybacks authorization, $3.5B was just finished in Q1 and there is still $12B remaining.
● Alibaba's short-term investments totaled $41.3B at the end of the Q1 FY23. Alibaba still has large cash & equivalents of $26.4B on the balance sheet.
More statistics:
Alibaba Q1 FY23 Earnings Highlights
Alibaba Q1 FY23 Earnings Highlights
KEY Points:
● International commerce retail business decreased 3%, which was primarily due to the declining orders of AliExpress for changes in the European Union’s VAT rules and supply chain disruptions due to the Russia-Ukraine conflict. These impacts are partly offset by Lazada’s GMV growth and active increase in monetarization initiatives that resulted in higher monetarization rate.
● China customer management revenue decreased 10% YoY, primarily because online physical goods GMV generated on Taobao and Tmall declined mid-single-digit and increased order cancellation due to the impacts from COVID-19 resurgence and supply disruptions.
● There is an increase of 10% YoY revenue growth in the Cloud segment, which reflected recovering growth of overall non-Internet industries, driven by financial services, public services, and telecommunication industries;
● The SEC recently added Alibaba to a list of Chinese companies that could potentially be delisted. The investor’s emotion could be hurter again.
● Alibaba will further pursue high-quality and high-efficiency growth, which might contribute to the improvement in EBITDA margin.

The KEY in your hands:
By August 2022, BABA’s share price has dropped about 23% since the start of 2022, underperforming the S&P 500, which was about 13% declined in the same period.
Therefore, how do you see the BABA currently? What is your opinion or analysis about it? Speak out with mooers and get inspired by sharing!
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Disclaimer:
Comments above are made available for informational purposes only. Before investing, please consult a licensed professional. *Source of data: otp.investis.com/clients/us/alibaba/SEC/sec-show.aspx?Type=html&FilingId=15998404&Cik=0001577552
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