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- Alibaba beats estimates – the stock is rising
- 1 Month +3.50%
- 3 Month -13.62%
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- Mizuho $160
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News & AnalysisAlibaba Group Holding Limited (BABA) reported its latest financial results for the quarter ended March 31, 2022 before the market open on Thursday. The Chinese e-commerce giant posted better than expected results, sending the stock price higher.
The company reported revenue of $32.167 billion in the quarter (up 9% year-over-year) vs. $31.444 billion estimate.
Earnings per share at $1.25 per share vs. $1.12 per share expected.
Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group commented on the results: ‘Alibaba delivered on the goal of serving one billion annual active consumers in China this past quarter and achieved a record RMB 8,317 billion in global GMV for the fiscal year. Despite macro challenges that impacted supply chains and consumer sentiment, we continued to focus on customer value proposition and building the capabilities to deliver value. We saw tangible progress across our businesses, especially in operational improvements in key strategic areas.’
‘Looking ahead, we will continue to execute on our multi-engine growth strategy by strengthening our digital infrastructure and focusing on quality growth to create long-term value for our customers, shareholders and other stakeholders across our ecosystem,’ Zhang added.
Alibaba Group Holding Limited (BABA) chart
The stock price rallied after the latest results were announced, up by over 14% at $94.24 per share.
Here is how the stock has performed in the past year:
Alibaba price targets
Alibaba Group Holding Limited is the 32nd largest company in the world with a market cap of $261.15 billion.
You can trade Alibaba Group Holding Limited (BABA) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Alibaba Group Holding Limited, TradingView, MarketWatch, Benzinga, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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