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$阿里巴巴(BABA)$ 公布截止2017年12月底的2018财年第三季度业绩，#阿里发财报看多or看空#  #业绩点评#

第三财季实现营收830.3亿元人民币，同比增长56%，高于市场预期的797.1亿元；当季调整后每股收益10.61元，也高于市场的10.53元。

财报显示，当季实物商品的商品交易额（GMV）同比增长43%。阿里巴巴称，这反映了所有主要品类包括服饰、消费电子类产品和快速消费品（FMCG）在内的强劲、健康增长势头。

当季核心电商业务收入达人民币732.44亿元，同比增长57%；中国零售平台的年度活跃消费者达到5.15亿，中国零售平台的移动月度活跃用户达到5.80亿。

云服务营收同比增长104%至35.99亿元人民币；数字娱乐营收同比增长33%至54.13亿元人民币；创新业务营收同比下降9%至7.72亿元。

阿里巴巴在财报中表示，基于对2018财年全年业绩增长的可预见性，上调2018财年的收入指引从49%－53%至55%—56%。

此外，阿里巴巴与蚂蚁金服联合宣布，根据2014年双方签署的战略协议，并经阿里巴巴董事会批准，阿里巴巴将通过一家中国子公司入股并获得蚂蚁金服33%的股权。根据当时的协议，蚂蚁金服每年需向阿里巴巴支付知识产权及技术服务费，金额相当于蚂蚁金服税前利润的37.5%；同时，在条件允许的情况下，阿里巴巴有权入股并持有蚂蚁金服33%的股权，并将相应的知识产权转让给蚂蚁金服，上述分润安排同步终止。

原版

• An outstanding quarter with robust total revenue growth of 56% YoY
• With three quarters in FY’18 of strong results, we are increasing FY’18 revenue guidance to 55% – 56%, up from the 49% to 53% range announced in November 2017
• Agrees to 33% equity stake in Ant Financial
• “Others” revenue under China commerce retail – which is mostly New Retail – was up 525% YoY

Summary financials

• Total revenue growth of 56% YoY to US$12.8 billion
• Strong Core Commerce revenue growth of 57% YoY to US$11.3 billion
• Highly profitable Core Commerce segment; grew adjusted EBITA by 30% YoY to US$5.9 billion with adjusted EBITA margin for core commerce of 53%
• 104% YoY growth in Cloud Computing revenues for the quarter
• Non-GAAP diluted EPS(*) of US$1.63, up 18% YoY; while diluted EPS was US$1.41, up 33% YoY
• Free cash flow was US$7.1 billion powering continued investment in core commerce offerings, cloud computing, digital media and entertainment and other innovation initiatives

Strong and Growing Core Commerce Business

User growth, engagement and monetization:

• Mobile Monthly Active Users on China retail marketplaces reached 580 million in December 2017, an increase of 31 million over September 2017
• Annual active consumers on China retail marketplaces reached 515 million, up 27 million users over the 12-month period ended September 2017
• China commerce retail revenue per annual active consumer increased to US$48, up from US$44 in the prior quarter. Mobile revenue per mobile MAU grew to US$35, up from US$32 in prior quarter
• 93% YoY revenue growth in our international commerce retail business to US$727 million, driven by strong growth in our in our Southeast Asian platform Lazada and our global retail marketplace, AliExpress

Robust Growth of Cloud Business

• Cloud revenue grew 104% YoY to US$553 million driven by robust growth in paying customers and a more diversified revenue mix
• Continued expansion of customer base across industries; major partnerships and customers include: Watsons China, Geely and Beijing Capital International Airport

Long-term Advantages in Digital Media and Entertainment

• Youku video’s daily average subscribers grew over 100% year-on-year driven by successful launches of hit original drama series
• Revenue from digital media and entertainment increased 33% YoY to US$832 million

New Retail

• “Others” revenue under China commerce retail – which is mostly New Retail – was up 525% YoY
• Hema added 5 new stores, bringing total store count to 25 as of December 2017

*Non-GAAP diluted EPS excludes disposal gains, share-based compensation and certain other items.