HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal first-quarter earnings of $1.55 billion.
The Hong Kong-based company said it had profit of 55 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.26 per share.
The online retailer posted revenue of $39.64 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $38.63 billion.
Alibaba shares have dropped 12% since the beginning of the year. The stock has risen slightly more than 7% in the last 12 months.
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