23Q3 Performance Review$Alibaba(BABA)$ announced its results in the Q3 quarter of fiscal year 23 (as of December 31, 22). Revenue 247.8 billion RMB (+2.1% YoY), roughly meet market expectations; Adjusted EBITA 52 billion yuan (+16% YoY), beat consensus by 13.3%; Net Income contribute to shareholders 46.8 billion yuan (about 6.788 billion US dollars); EPADS adj. is 19.26, both beat market consensus.Due to soft demand and logistics disruptions related to COVID, physical GMV on Taobao and Tmall declined mid-single-digit y/y in the Dec. quarter (vs. low-single-digit decline in Sep. quarter). Similar to the previous quarter, due to a higher return rate (