Alibaba Group Holding Ltd. (NYSE: BABA) released its fiscal fourth-quarter financial results before the markets opened on Wednesday. The company said that it had $1.28 in earnings per share (EPS) and $13.93 billion in revenue, which compares with consensus estimates of $0.96 in EPS and revenue of $13.32 billion. In the same period of last year, Alibaba said it had EPS of $0.83 on $8.92 billion in revenue.
During the latest quarter, mobile monthly active users on the China retail marketplaces reached 721 million in March, an increase of 22 million year over year.
Alibaba’s core commerce segment delivered robust revenue growth of 51% year over year. The strong performance of the segment was driven primarily by effective user acquisition, growth of China retail marketplaces and the expansion of the total addressable market.
Looking ahead, the company expects to see revenues of over RMB 500 million in the fiscal 2020 year. Consensus estimates call for $6.56 in EPS and $73.95 billion in revenue for the year.
Daniel Zhang, CEO of Alibaba, commented:
More and more, Alibaba is becoming synonymous with everyday consumption in China, growing our base to 654 million annual active consumers and extending our penetration in less-developed cities. Our cloud and data technology and tremendous traction in New Retail have enabled us to continuously transform the way businesses operate in China and other emerging markets, which will contribute to our long-term growth.
Shares of Alibaba closed Tuesday at $174.84, in a 52-week range of $129.77 to $211.70. The consensus price target is $208.10. Following the announcement, the stock was up about 1% at $177.12 in early trading indications Wednesday.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
