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Alibaba: Fiscal 1Q Earnings Snapshot

Associated Press
Updated

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BABA at https://www.zacks.com/ap/BABA