智通财经APP获悉，中金发布研报称，阿里巴巴-Ｗ(09988)公布2026财年第三季，即去年第四季业绩，收入同比增1.7%至 2,848亿元人民币(下同)，剔除资产出表影响后可比口径同比增9%，低于预期，因中国和国际电商表现欠佳；调整EBITA同比下滑57.3%至234亿元，主要因淘宝闪购投入和电商拖累。云收入加速，平头哥量产。中国和海外电商均承压，闪购UE按季亏损减少。下调港股和美股目标价13%至172港元和178美元，维持“跑赢行业”评级。
该行下调2026和2027财年收入1%和1%，至10,330亿元和11,875亿元，因电商表现疲软；下调2026和 2027财年non-GAAP净利润预测各15%和27%，至807亿元和983亿元，因AI和闪购投入加大。
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.