Alibaba: Fiscal 1Q Earnings Snapshot
HONG KONG (AP) _ Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal first-quarter profit of $3.1 billion.
The Hong Kong-based company said it had profit of $1.17 per share. Earnings, adjusted for one-time gains and costs, were $1.83 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The online retailer posted revenue of $16.74 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $16.57 billion.
Alibaba shares have risen 18% since the beginning of the year. The stock has fallen 6% in the last 12 months.