HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Tuesday reported fiscal fourth-quarter net income of $453 million.
On a per-share basis, the Hong Kong-based company said it had net income of 18 cents. Earnings, adjusted for one-time gains and costs, were $1.40 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The online retailer posted revenue of $30.73 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $30.59 billion.
Alibaba shares have increased 9% since the beginning of the year. The stock has decreased almost 4% 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
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