Chinese e-commerce giant reported adjusted income of $2.65 per share well above analysts' expectations of $2.12 per share. Sales from its core e-commerce business rose 29%, however revenue of $22.838 billion came in slightly below market estimates of a $23.19 billion.
Mobile monthly active users on Alibaba's retail marketplaces reached 881 million in September, up seven million from June.
“Alibaba had another strong quarter. We continued to help businesses recover and find new opportunities for growth through digitalization in the post-pandemic landscape. The solid performance of our core commerce and robust growth of Alibaba Cloud are the direct results of our commitment to value creation for customers,” said CEO Daniel Zhang. “We remain focused on our three long-term growth engines – domestic consumption, cloud computing and data intelligence, and globalization – to effectively capture opportunities from the ongoing changes in consumer demand and acceleration of digitalization of businesses across our digital economy.”
Today's results come on the heels of China's surprise suspension of company's affiliate Ant Group's record $37 billion listing at Shanghai stock exchange on Tuesday.
Alibaba Group Holding Ltd. (BABA.US) stock is trading under pressure after company posted mixed quarterly results. Should downbeat mood prevail, then support at $267.00 could be at risk. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
