fbpx

US Earnings – Alibaba

Alibaba beat expectations in its latest report by posting adjusted earnings of 79 cents per share on $5.12 billion in revenue. Analysts were expecting 69 cents per share and $5.03 billion in revenue. In last year’s September quarter, the online retailer posted $3.28 billion in revenue and adjusted earnings of 53 cents per share.

The company announced core commerce revenue grew 41% to $4.3 billion, while cloud computing revenue increased 130% to $224 million. The adjusted EBITDA margin was 46%, compared to 50% during the same period last year.

You're not a member!  Trial today

Digital media grew by 302% to $541 million. The company also announced they had 450 million active users in September, marking a 23 million increase from June.

Shares of Alibaba rose in early NY trading, climbing as high as 104.75 before drifting back to 98.50 at the close. The share price has almost doubled since the February low of $60.50 and the next key level of support will be found at the August breakout price of $85.00

Leave a Reply

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
© 2024 Investor Signals

Send our ASX Research to your Inbox

Or start a free thirty day trial for our full service, which includes our ASX Research.