Movement Alert｜Alibaba Falls 3.02% Overnight, Profit Decline and Sector Pressure Weigh on Shares

Market Focus11:14

On June 23, Alibaba fell 3.02% overnight, trading at $101.65/share, with turnover of $16.7165 million. The Hong Kong-listed shares also declined 3.26%, reflecting broad-based selling pressure across the Chinese internet sector.

On the news front, Alibaba recently published its full-year fiscal report, revealing net profit fell 19% year-over-year to RMB 102.127 billion, despite total revenue rising 3% to RMB 1.0237 trillion. Non-GAAP net profit dropped sharply by 62% to RMB 60.658 billion compared to the prior fiscal year. Full-year adjusted EBITA declined 56% to RMB 76.416 billion, primarily driven by elevated investment in technology, instant retail, and user experience initiatives, partially offset by growth in customer management services and cloud business.

Within the Broadline Retail sector, JD.com fell 3.0%, PDD Holdings declined 0.78%, eBay slipped 0.28%, while Amazon.com edged up 0.05% and MercadoLibre gained 0.08%. The combination of sector-wide weakness among Chinese internet names and profit contraction in Alibaba's fiscal year results appears to be the primary backdrop for this adjustment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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