阿里巴巴-W:云业务加速增长 淘天TR同比提升

华安证券
May 20

FY25Q4业绩1)整体业绩:FY25Q4,阿里巴巴收入为2365 亿元(yoy+7%),略低于彭博预期;盈利能力方面,经调整EBITDA 和经调整净利润达到418亿元(yoy+36%,margin 为18%)和298 亿元(yoy+22%,margin 为13%),分别高于彭博预期1.3%、1.6%。2)分部业务方面,淘天集团收入为1014 亿元(yoy+9%),高于彭博预期3.6%,经调整...

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