Results exceeded Wall Street expectations.
HONG KONG — HONG KONG — Alibaba Group Holding Ltd. (BABA) on Tuesday reported fiscal fourth-quarter net income of $453 million.
On a per-share basis, the Hong Kong-based company said it had net income of 18 cents. Earnings, adjusted for one-time gains and costs, were $1.40 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The online retailer posted revenue of $30.73 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $30.59 billion.
Alibaba shares have increased 9% since the beginning of the year. The stock has decreased almost 4% in the last 12 months.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment