According to a research report published by Citigroup, although Alibaba (9988. HK) 's overall revenue was worse than expected, while the growth of cloud services and customer management revenue slowed down, the adjusted EBITA and net profit were better than expected. The company's revenue guidance for fiscal year 2022 and the direction of reinvesting profits in new businesses remain unchanged. Citigroup has a positive view on Ali's expansion of the repurchase plan to US $15 billion, which means that the management has confidence in the long-term growth prospects and also reflects Ali's strong cash flow production capacity.. The bank believes that the company's focus on multi-App strategy is more prudent because the industry is gradually shifting to a decentralized model as consumers change. Citi will Ali...
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