大厂Q3财报陆续出炉各家有喜有忧

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请图片作者与本报联系索取稿酬受淘宝闪购营销投入加大影响，阿里本季度财报出现增收不增利商报讯（记者吕文鹃）大厂集体迎来了Q3财报交卷期。11月25日，阿里巴巴集团发布2026财年第二季度财报，早几日前，拼多多、京东等企业已陆续发布Q3财报，其中，引发较多关注的，是部分企业财报中的即时零售业务营收。在上一季度财报中，营销投入带来的亏损在阿里、京东、美团的财报中显著提升引发了热议。这次的Q3财报中，...

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亿元，主要归因于对即时零售、用户体验以及科技的投入，部分被阿里巴巴中国电商集团的双位数收入增长、云业务的持续增长所带来的经营业绩改善，以及多项业务运营效率的提升所抵销。在这份财报中，阿里在营收增长的情况下利润出现明显下滑，增收不增利的主要原因，阿里巴巴集团CEO吴泳铭在财报电话会中也有表明，“我们正处于投入阶段，构建AI技术和基础设施平台，以及生活服务与电商结合的大消费平台，创造长期战略价值。”七八月份的闪购业务，无疑是本次财报的巨亏点。财报数据披露，本季度阿里在集团销售和市场费用的投入为665亿，与去年同期相比高出一倍不止。阿里CFO徐宏表示，三季度是闪购业务投入高点，随着整体效率的显著改善和规模稳定，预计闪购业务的整体投入会在下个季度显著收缩。云业务成为阿里财报中的亮点。本季度，阿里云智能集团收入398.24亿元，同比增长34%。AI相关产品收入连续第九个季度实现三位数同比增长，成为推动云业务增长的关键动力。更重要的是，AI收入在云业务外部商业化收入中的占比正在提升。京东、滴滴等有喜有忧 美团财报尚未出炉京东的Q3财报同样出现增收不增利的情况，11月13日，京东集团公布今年第三季度财报，数据显示，京东第三季度营收2991亿元，同比增长14.9%，归属于普通股股东的净利润却同比下滑54.7%至53亿元，连续两个季度出现大幅下滑。在倍受关注的外卖业务上，京东Q3投入明显减少：本季度营销开支是211亿元，与二季度的270亿元相比，减少了59亿元。此外，外卖所在新业务板块营收为155.92亿元，与二季度138.52亿元相比，增长了约17亿元。此外，这次财报中，京东零售收入同比增长11.4%，其中日用百货品类与广告服务收入增速较上季度进一步加快，对于京东来说，这也将是接下来重要的增长引擎之一。滴滴11月26日在官网发布2025年第三季度业绩报告。延续了前两个季度的稳健增长，三季度滴滴核心平台（包括中国出行和国际业务）订单量同比增长13.8%，攀升至46.85亿单。这也是自2023年以来，滴滴订单量连续11个季度保持了同比双位数的稳定增长。 随着订单量的稳步提升，滴滴核心平台交易额（GTV）不断扩大。三季度滴滴核心平台GTV同比增长14.8%至1158亿元。同期公司实现净利润15亿元。 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大厂Q3财报陆续出炉 各家有喜有忧

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大厂Q3财报陆续出炉各家有喜有忧