BABA(US:BABA) Ge Long Hui·2025-11-26 07:43Core Viewpoint - UBS report indicates Alibaba's revenue for the quarter ending September increased by 5% year-on-year to 248 billion yuan, exceeding expectations by 3% [1] Financial Performance - Adjusted EBITA reached 9.1 billion yuan, surpassing UBS's expectation of 6.5 billion yuan, benefiting from better-than-expected profit margins in e-commerce and all other business segments [1] Business Segmentation - Alibaba's China e-commerce group (Taobao and Tmall) performed better than expected in the last quarter [1] - Cloud business revenue increased by 34% year-on-year, also exceeding expectations, supported by strong demand for AI [1] Market Outlook - UBS highlights that the outlook for the cloud business is of significant market interest, with expectations for a 29% revenue growth for the third quarter ending December and a projected 28% growth for the full year ending March next year [1] Investment Rating - UBS sets a target price of $216 for Alibaba's U.S. stock and maintains a "Buy" rating [1]