Alibaba Earnings Propel Stock To New Highs

Alibaba Group Holding Ltd (NYSE:BABA) shares are soaring Thursday morning, with BABA stock touching new 2016 highs thanks to a big earnings beat.

Fiscal first-quarter profits came to 74 cents per share of Alibaba stock on revenues of $4.838 billion. That represented 25% year-over-year growth on the bottom line, and 59% growth on the top. Better still, both numbers topped consensus expectations for 61 cents per share on $4.61 billion, respectively.

“The 59% revenue growth for the company overall and the 49% revenue groath of our China retail marketplaces represent the highest growth rates we’ve achieved since our IPO,” CFO Maggie Wu said of the quarter.

A few other highlights for the quarter:

  • China retail martketplace revenue was $3.518 billion, up 49% YoY.
  • Mobile marketplace revenue was $2.635 billion, up 119% YoY.
  • Core ecommerce earnings were$2.501 billion, up 38% YoY.
  • Mobile MAUs reached 427 million in June, up 17 million since March.
  • Marketplace GMV came in at $126 billion, up 24% YoY.
  • Cloud computing revenue came in at $187 million, up 156% YoY.

That sound you hear? A huge sigh of relief from BABA stock holders.

More Reassurance for Alibaba Stock Investors

Since BABA’s highly anticipated IPO in late 2014, the stock has…

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