--- title: "Haitong International expects Alibaba's revenue for the last quarter to increase by 2.3% year-on-year, while lowering its earnings forecast" description: "Haitong International released a report stating that Alibaba's revenue for the third fiscal quarter increased by 2.3% year-on-year, reaching RMB 289.3 billion. Customer management revenue grew by 4.4%" type: "news" locale: "en" url: "https://longbridge.com/en/news/276973364.md" published_at: "2026-02-26T02:31:14.000Z" --- # Haitong International expects Alibaba's revenue for the last quarter to increase by 2.3% year-on-year, while lowering its earnings forecast > Haitong International released a report stating that Alibaba's revenue for the third fiscal quarter increased by 2.3% year-on-year, reaching RMB 289.3 billion. Customer management revenue grew by 4.4%, international digital commerce group revenue increased by 18.5%, and cloud business revenue rose by 38%. Due to weak consumer trends, the growth of customer management revenue may be moderate. The cloud business will be the main growth engine. The firm raised its revenue forecast for the third fiscal quarter to RMB 289 billion and its full-year revenue forecast to RMB 1,034 billion, but lowered its net profit forecasts for the third fiscal quarter and the full year to RMB 29 billion and RMB 93.6 billion, respectively. The target price remains at $203, with a rating of "Outperform." Haitong International published a research report stating that Alibaba (BABA.US) reported total revenue of RMB 289.3 billion for the third fiscal quarter, an increase of 2.3% year-on-year. Among this, Customer Management Revenue (CMR) increased by 4.4% year-on-year, revenue from Alibaba International Digital Commerce Group (AIDC) rose by 18.5% year-on-year to RMB 44.7 billion, cloud business revenue increased by 38% year-on-year to RMB 43.8 billion, and other revenue grew by 25% year-on-year to RMB 66.4 billion. The firm indicated that due to weak consumer trends in November and December last year, merchants' advertising budgets and discretionary spending were under pressure, which may lead to moderate growth in Customer Management Revenue. Driven by the accelerated growth of artificial intelligence workloads and increased token consumption, cloud business will remain the main growth engine for this quarter. The firm raised its revenue forecasts for the group for the third fiscal quarter and fiscal year 2026 to RMB 289 billion and RMB 1,034 billion, respectively; it also lowered its net profit forecast for the third fiscal quarter to RMB 29 billion and for the full year to RMB 93.6 billion. The firm maintains its target price at $203, with a rating of "Outperform." ### Related Stocks - [BABA.US - Alibaba](https://longbridge.com/en/quote/BABA.US.md) - [09988.HK - BABA-W](https://longbridge.com/en/quote/09988.HK.md) - [BABX.US - BABA 2x Long Daily ETF - GraniteShares](https://longbridge.com/en/quote/BABX.US.md) - [ONLN.US - ProShares Online Retail](https://longbridge.com/en/quote/ONLN.US.md) - [KBAB.US - KraneShares 2x Long BABA Daily ETF](https://longbridge.com/en/quote/KBAB.US.md) - [EBIZ.US - Global X E-commerce ETF](https://longbridge.com/en/quote/EBIZ.US.md) - [IBUY.US - Amplify Online Retail ETF](https://longbridge.com/en/quote/IBUY.US.md) - [KWEB.US - Krne Csi China Internet](https://longbridge.com/en/quote/KWEB.US.md) - [CLOU.US - Global X Cloud Computing ETF](https://longbridge.com/en/quote/CLOU.US.md) - [BABO.US - YieldMax BABA Option Income Strategy ETF](https://longbridge.com/en/quote/BABO.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Kimi’s Moonshot AI sees revenue surge, secures over $700 million in new funding | Kimi’s Moonshot AI has experienced a significant revenue surge, generating more revenue in the last 20 days than in all | [Link](https://longbridge.com/en/news/276690714.md) | | PNC Financial Services Group Inc. 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