HK Stock Market Move | BABA-W (09988) opened more than 6% lower after the performance announcement. The third quarter revenue and profit did not meet expectations.

BABA-W(09988) opened more than 6% lower after the performance announcement, and dropped 6.44% to 123.5 Hong Kong dollars as of the time of writing, with a turnover of 13.97 billion Hong Kong dollars. On the news front, on March 19, Alibaba released its financial report for the third quarter of the 2026 fiscal year, with revenue of 284.84 billion yuan, a year-on-year increase of 2%; adjusted net profit decreased by 67% year-on-year to 16.71 billion yuan. Adjusted EBITA was 23.397 billion yuan, a year-on-year decrease of 57%. Alibaba attributed this mainly to investment in instant retail, user experience, and technology, partially offset by the continuous growth of cloud business's operating performance and the efficiency improvement in various business operations. During the period, Alibaba Cloud's revenue increased by 36%, AI-related product revenue continued to increase in the triple digits for the tenth consecutive quarter; e-commerce business revenue was 131.583 billion yuan, a year-on-year increase of 1%; customer management revenue also increased by 1%. In terms of cash flow, net cash flow from operating activities was 36.032 billion yuan, a decrease of 49% from the same period in 2024; free cash flow was 11.346 billion yuan, a decrease of 71% from the same period in 2024.