Alibaba Group Holding Ltd. (NYSE: BABA | BABA Price Prediction) released its fiscal fourth-quarter financial results before the markets opened on Friday. The Chinese tech and e-commerce giant said that it had $1.30 in earnings per share (EPS) and $16.14 billion in revenue, which compares with consensus estimates of $0.87 in EPS and $15.20 in billion revenue. The same period of last year reportedly had $1.25 in EPS and $13.59 billion in revenue.
Annual active consumers on the China retail marketplaces reached 726 million, an increase of 15 million from the trailing 12-month period ended in December. Mobile monthly active users on the China marketplace reached 846 million in December, an increase of 22 million over December 2019.
Revenue from the China commerce retail business increased 21% year over year to $10.01 billion, and the revenue from the China wholesale business increased by 9% to $394 million. International retail business revenues increased 8% to $756 billion and at the wholesale increased by 15% to $347 million.
As for the cloud computing business, revenues increased 59% year over year to $1.73 billion, primarily driven by increased revenue contributions from both the public cloud and hybrid cloud businesses.
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Daniel Zhang, board chair and chief executive of Alibaba, commented:
The pandemic has fundamentally altered consumer behavior and enterprise operations, making digital adoption and transformation a necessity. We are well positioned and prepared to help large and small businesses across a wide spectrum of industries achieve the digital transformation they need to survive this difficult period and eventually prevail in the new normal. By focusing on the long term and investing in value creation for our consumers and business customers, we believe we will emerge from this crisis stronger and be ready to capture more growth in the future.
Alibaba stock traded down over 4% early Friday to $202.36, in a 52-week range of $147.95 to $231.14. The consensus price target is $256.50.
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