Alibaba reported mixed fiscal first-quarter earnings on Thursday. Revenue soared 61 percent year over year, boosted by its core e-commerce business and fast-growing cloud division, but earnings fell short expectations.
Here's how the company did, compared to Thomson Reuters consensus estimates:
- Revenue: 80.92 billion yuan, vs. 80.75 billion yuan expected
- Adjusted earnings per share: 8.04 yuan, vs. 8.15 yuan expected
In the year-ago quarter, Alibaba reported adjusted earnings of 7.95 yuan per share on revenue of 50.18 billion yuan.
Net income of 8.69 billion yuan, a 40.8 percent decline from the 14.68 billion yuan reported in the fiscal first quarter of 2017.
U.S.-listed shares of Alibaba fell more than 2 percent in Thursday trading. The stock has been under pressure in recent months amid a broader sell-off in Chinese stocks over concerns about the impact of the U.S.-China trade war.
Shares hit a record high close of $210.86 on June 14, but have declined about 15.6 percent since. That equates to an $81.3 billion fall in market capitalization or value. The stock is up just 1 percent so far in 2018.