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What Analysts Are Saying After Alibaba Reported Earnings
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Alibaba Group Holding Ltd. (NYSE: BABA) reported its fiscal first-quarter financial results before the markets opened on Thursday. Ultimately, this report showed continued growth for the company, and coupled with the past six months of performance, Alibaba is up over 50%. As a result, analysts rushed to make calls on the stock following the report.
24/7 Wall St. has included some of the key highlights from the earnings report, as well as what analysts are saying afterward.
The company said that it had $0.74 in earnings per share (EPS) on $4.84 billion in revenue for the quarter. Consensus estimates from Thomson Reuters had called for $0.63 in EPS on revenue of $4.54 billion. According to Alibaba, the same period of last year had EPS of $0.56 and $3.04 billion in revenue.
Mobile monthly active users (MAUs) in June reached 427 million, an increase of 17 million over March 2016, while annual active buyers on Chinese retail marketplaces increased to 434 million, a net addition of 11 million annual active buyers from the prior quarter.
Gross merchandise value (GMV) transacted on Chinese retail marketplaces was $126 billion, an increase of $25 billion, or 24%, from last year, with mobile GMV accounting for 75% of total GMV.
The cloud computing business continued its rapid expansion, with revenue in this quarter increasing 156% from last year to $187 million.
After earnings were released, analysts poured into this Chinese giant:
Shares of Alibaba were trading up over 3% to $94.87 on Friday, with a consensus analyst price target of $99.29 and a 52-week trading range of $57.20 to $95.00.
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