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
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February 20, 2025 06:22 ET (11:22 GMT)
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