$Alibaba (BABA.US)$stock is trading lower Tuesday after the company reported its quarterly results.
The Jack Ma co-founded e-commerce giant reported fiscal fourth-quarter 2023 revenue growth of 7% year-on-year to $30.73 billion, beating the analyst consensus estimate of $30.40 billion. Adjusted earnings per ADS of $1.40 missed the analyst consensus estimate of $1.41.
Net income plunged 86% Y/Y to $453 million due to net loss from its investments in publicly traded companies during the quarter. Adjusted net income declined 11% Y/Y to $3.38 billion.
Segments: Taobao and Tmall Group revenue grew 4% year over year to $12.91 billion. Alibaba International Digital Commerce Group revenue increased by...
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