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<Foresight>M Stanley's Predictions for BABA-W's Results for 2FQ Ending Sep (Table)
Recommend
23
Positive
30
Negative
16
Breakdown│2QFY26 Forecast (RMB)│YoY Change
Revenue│241.395 billion│+2.1%
(1) China E-commerce Group Revenue│126.373 billion│+10.5%
-Customer Management│78.34 billion│+10%
(2) International Digital Commerce Group Revenue│36.12 billion│+14%
(3) Cloud Intelligence Group Revenue│39.085 billion│+32%
(4) All Others│61.107 billion│-28%
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Adjusted EBITA │6.057 billion│-85.1%
(1) China E-Commerce Group Adjusted EBITA│8.846 billion│-80.1%
(2) International Digital Commerce Group Adjusted EBITA│-│-
(3) Cloud Intelligence Group Adjusted EBITA│3.322 billion│+24.8%
(4) All Others※ Adjusted EBITA│-4.95 billion│+190.3%
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Adjusted EBITA Margin│2QFY26 Forecast│YoY Change
Overall Adjusted EBITA Margin│2.5%│-14.8 ppts
(1) China E-Commerce Group Adjusted EBITA Margin│7%│-31.9 ppts
(2) International Digital Commerce Group Adjusted EBITA Margin│0%│+9.2 ppts
(3) Cloud Intelligence Group Adjusted EBITA Margin│8.5%│+0.5 ppts
(4) All Others Adjusted EBITA Margin│-8.1%│-6.1 ppts
※ All Others include training of the Qianwen model and subsidiary businesses like Quark, Amap, and DingTalk.

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