Alibaba: Fiscal Q3 Earnings Snapshot

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

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up