HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal third-quarter net income of $6.79 billion.
The Hong Kong-based company said it had net income of $2.60 per share. Earnings, adjusted for one-time gains and costs, were $2.79 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The online retailer posted revenue of $35.92 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $35.36 billion.
Alibaba shares have climbed nearly 8% since the beginning of the year. The stock has decreased 16% in the last 12 months.
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
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