财务指标前瞻:我们预计阿里巴巴FY2026Q3（对应自然年2025Q4）实现总营收2,910亿元（YoY+4%，QoQ+17%），经调整EBITA同比下降47%至291亿元，经调整EBITA margin为10%，主因传统电商利润同比或负增长，叠加即时零售投入以及在大模型训练、AI原生应用算力的持续投入；中国电商集团（中国电商+即时零售+中国批发业务）预计营收1,660亿元（YoY+10%），中国...
Source Link财务指标前瞻:我们预计阿里巴巴FY2026Q3（对应自然年2025Q4）实现总营收2,910亿元（YoY+4%，QoQ+17%），经调整EBITA同比下降47%至291亿元，经调整EBITA margin为10%，主因传统电商利润同比或负增长，叠加即时零售投入以及在大模型训练、AI原生应用算力的持续投入；中国电商集团（中国电商+即时零售+中国批发业务）预计营收1,660亿元（YoY+10%），中国...
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