Alibaba earnings top analyst expectations. The stock is surging.
MW Alibaba earnings top analyst expectations. The stock is surging.
By Steve Goldstein
Chinese online conglomerate Alibaba Group Holding Ltd. on Thursday said its December-quarter profit improved due to growth in all of its main businesses, and notably its international e-commerce business.
Alibaba said its quarterly profit jumped to 48.9 billion yuan, or $6.7 billion. On an adjusted basis, it earned $2.93 per U.S.-listed share, as revenue rose 8% to $38.38 billion.
According to FactSet, analysts were expecting earnings of $2.67 per American depository receipt on sales of $38.23 billion.
Alibaba said its "user-first, AI-driven" strategy helped to reaccelerate growth in its key businesses.
Alibaba shares $(BABA)$ jumped 5% in premarket trade.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 20, 2025 06:22 ET (11:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
No relevant data is available