Alibaba (BABA) Misses Q4 EPS by 21c, Revenue Beats, Offers Guidance
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(Updated - May 13, 2021 7:23 AM EDT)
Alibaba (NYSE: BABA) reported Q4 EPS of $1.58, $0.21 worse than the analyst estimate of $1.79. Revenue for the quarter came in at $28.6 billion versus the consensus estimate of $28.11 billion.
Revenue was RMB187,395 million (US$28,602 million), an increase of 64% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 40% year-over-year to RMB159,952 million (US$24,413 million).
Annual active consumers on our China retail marketplaces was 811 million for the twelve months ended March 31, 2021, an increase of 32 million from the twelve months ended December 31, 2020. Mobile MAUs on our China retail marketplaces reached 925 million in March 2021, an increase of 23 million over December 2020.
Loss from operations was RMB7,663 million (US$1,170 million) due to a RMB18,228 million (US$2,782 million) fine levied by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”). Excluding this one-time impact, our income from operations would have been RMB10,565 million (US$1,612 million), an increase of 48% year-over-year. Adjusted EBITDA, a non-GAAP measurement, increased 18% year-over-year to RMB29,898 million (US$4,563 million). Adjusted EBITA, a non-GAAP measurement, increased 14% year-over-year to RMB22,612 million (US$3,451 million).
Net loss attributable to ordinary shareholders was RMB5,479 million (US$836 million), and net loss was RMB7,654 million (US$1,168 million), primarily due to the above-mentioned Antimonopoly Fine. Excluding this impact and certain other items, non-GAAP net income was RMB26,216 million (US$4,001 million), an increase of 18% year-over-year.
Diluted loss per ADS was RMB1.99 (US$0.30) and diluted loss per share was RMB0.25 (US$0.04 or HK$0.30), primarily due to the above-mentioned Anti-monopoly Fine. Excluding this impact and certain other items, non-GAAP diluted earnings per ADS was RMB10.32 (US$1.58), an increase of 12% year-over-year and non-GAAP diluted earnings per share was RMB1.29 (US$0.20 or HK$1.53), an increase of 12% year-over-year.
Net cash provided by operating activities was RMB24,183 million (US$3,691 million). NonGAAP free cash flow was an outflow of RMB658 million (US$100 million), compared to an outflow of RMB4,214 million in the same quarter of 2020.
The guidance below is a forward-looking statement that reflects assumptions that we believe to be reasonable as of the date of this announcement and involve inherent risks and uncertainties, many of which we are not able to predict or control. Based on our current view of Chinese and global consumption, enterprise digitalization and the competitive landscape, and subject to the uncertainties highlighted under the section entitled “Safe Harbor Statements” below, we expect to generate over RMB930 billion in revenue in fiscal year 2022.
For earnings history and earnings-related data on Alibaba (BABA) click here.
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