Alibaba blew through analysts’ earnings estimates, lifting revenues 54% to Rmb53.25bn ($7.7bn) in its quarter to the end of December and prompting the Chinese ecommerce group to lift its full-year growth guidance to 53%, the Financial Times reports. The internet group, a member of China’s “BAT” tech trinity with Baidu and Tencent, also proved adept at squeezing more profitability from revenues than Amazon, posting net income of Rmb17.16bn for the quarter. Consensus analyst estimates were for revenues of Rmb50.09bn, and earnings before interest, tax, depreciation and amortisation of Rmb24.82bn. Adjusted ebitda came in at Rmb27.02bn, up 41%. Alibaba shares broke back through the $100 barrier in New York, up 3.2% at $101.55 in morning trading on the news. Alibaba attributed its strength to more users spending more time on its platforms and being better able to monetize those users.
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