Is it finally time to buy BABA?
Alibaba Group Holding Limited (NYSE:BABA, OTCPK:BABAF) presented June Quarter 2022 results on August 4th and delivered above-consensus performance with regard to both revenues and operating income.
During the period April to June, Alibaba generated revenues of $30.69 billion, which indicates neither growth nor contraction as compared to the same period one year prior. But even though revenues remained flat, the performance is ahead of analyst consensus estimates, which estimated a 1.5% decrease year over year. Alibaba's income from operation was $3.7 billion, which is a decrease of about 19% as compared to the June quarter in 2021. But again, the performance is slightly ahead of analyst consensus estimates. Earnings per ADS was $1.74 versus $1.54 expected, which represents a 29% decrease year over year.
Despite Alibaba's strong quarterly performance, the company has recorded its worst topline expansion since the company's inception. In fact, the topline slightly contracted. But the market is looking beyond the past quarter and believes that Alibaba can find back to topline growth as early as in the next three months.
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