2024-02-09 11:02:44 ET
Summary
- Alibaba's Q3 Earnings beat estimates, while the company announced a new $25 billion share buyback program.
- Despite soft growth amid volatile macro conditions in China, Alibaba remains profitable and generates significant free cash flow.
- We are bullish on the stock with an expectation that improving sentiment toward the region supports a positive long-term outlook.
Alibaba Group Holdings' ( BABA ) latest quarterly results beat estimates, but fell short of turning the page on a backdrop of terrible sentiment. At least the market wasn't too impressed as shares fell more than 5% on the news. The Chinese e-commerce and cloud computing giant has been in a rut over the last several years, and it's clear to us it will likely take a bit more time and stronger results to completely rebuild investor confidence....
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Alibaba Q3 Earnings: Good Enough For Us To Stay Bullish