Alibaba Celebrates Earnings Beat

Alibaba Group Holding (NYSE:BABA) reported adjusted third-quarter earnings of $2.61 per share on Thursday, which beat the analyst consensus estimate of $2.22 by 17.57%. This is a 47.5% increase over earnings of $1.77 per share from the same period last year.

The company reported quarterly sales of $23.192 billion, which beat the analyst consensus estimate of $22.45 billion by 3.31%. This is a 36% increase over sales of $17.057 billion the same period last year.

“In response to the coronavirus, we mobilized Alibaba ecosystem's powerful forces of commerce and technology to fully support the fight against the outbreak, ensure supply of daily necessities for our communities and introduced practical relief measures for our merchants,” said CEO Daniel Zhang.

Net cash provided by operating activities was RMB96,505 million (US$13,862 million) and non-GAAP free cash flow was RMB78,279 million (US$11,244 million).

Last November, BABA successfully listed ordinary shares on the main board of Hong Kong Stock Exchange with a global offering of 575,000,000 ordinary shares, comprised of an international offering and a Hong Kong public offering. The Hong Kong-listed shares are fully fungible with our American depositary shares listed on the New York Stock Exchange (one ADS representing eight ordinary shares).

BABA shares began Thursday down $3.71, or 1.7%, to $220.61. The stock has a 52-week high of $231.14 and a 52-week low of $147.95.