Alibaba Shares Plunge After Q3 Earnings - Read How It Performed

Alibaba Group Holding Ltd BABA reported third-quarter FY21 revenue growth of 10% year-on-year to $38.07 billion missing the consensus of $38.83 billion.

Segments: The China commerce segment grew by 7% Y/Y to $27.03 billion, Cloud by 20% Y/Y to $3.07 billion, Local consumer services by 27% Y/Y to $1.91 billion, and International commerce by 18% Y/Y to $2,58 billion.

China Commerce (71% of revenue): The online physical goods GMV for Taobao and Tmall, excluding unpaid orders, recorded single-digit year-over-year growth.

International Commerce (7% of revenue): The combined order growth of Lazada, AliExpress, Trendyol, and Daraz was ~25% Y/Y, driven by robust growth in Lazada of 52% and Trendyol of 49%.

Cainiao (5% of revenue): Revenue grew 15% Y/Y to $2.05 billion.

Annual active consumers reached 1.28 billion for the twelve months ended December 31, an increase of ~43 million from the twelve months ended September 30.

Non-GAAP earnings per ADS of $2.65 beat the consensus of $2.55. Alibaba generated $12.6 billion in operating cash flow.

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Price Action: BABA shares traded lower by 7.58% at $101.40 in the premarket on the last check Thursday.