Alibaba (NYSE:BABA) earnings for the Chinese e-commerce company’s fiscal third quarter of 2019 have BABA stock down on Thursday. This comes despite its adjusted earnings per share (EPS) of $2.61 beating out Wall Street’s estimate of $2.22. The report also has revenue of $23.19 billion coming in above analysts’ estimates of $22.46 billion.
Here are some additional highlights from the most recent Alibaba earnings report.
- Adjusted EPS for the quarter comes in 44.2% higher than the $1.81 from the same time last year.
- Revenue is sitting 35.93% above the $17.06 billion reported during the fiscal third quarter of 2018.
- Operating income of $5.68 billion is a 47.92% increase YoY from $3.84 billion.
- The Alibaba earnings report also includes a net income of $7.2 billion.
- That’s a 62.16% improvement over its net income of $4.44 billion during the same period of the year prior.
Daniel Zhang, chairman and CEO of Alibaba, said this about the Q3 BABA stock earnings:
“In response to the coronavirus, we mobilized Alibaba ecosystem’s powerful forces of commerce and technology to fully support the fight against the outbreak, ensure supply of daily necessities for our communities and introduced practical relief measures for our merchants. No matter past, present or future, we remain true to our mission and we will support our merchants to overcome this challenging time together.”
The Alibaba earnings report doesn’t include guidance for its fourth quarter of the year. Even so, we know what Wall Street is estimating. That includes an adjusted EPS of $1.33 on revenue of $17.65 billion.
BABA stock finished the day down nearly 2%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/alibaba-earnings-drop-baba-stock/.
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