The Alibaba earnings report for the company’s fiscal second quarter of 2019 is now out and it is bad news for BABA stock
Alibaba’s (NYSE:BABA) earnings report for its fiscal second quarter of the year includes revenue of $12.39 billion. This is a 54% increase over the company’s revenue from the same time last year. However, it isn’t good news for BABA stock as it comes in below Wall Street’s revenue estimate of $12.49 billion for the quarter.
Alibaba earnings for its fiscal second quarter of 2019 saw it report earnings per share of $1.40. This is up from the company’s earnings per share of $1.23 reported in its fiscal second quarter of 2018. It also beat out analysts’ earnings per share estimate of $1.06 for the period, but couldn’t keep BABA stock from falling today.
Also among the Alibaba earnings report for its fiscal second quarter of the year is net income of $2.66 billion. This is 5% better than the company’s net income from the same period of the year prior.
Operating income reported in the Alibaba earnings report for its fiscal second quarter of 2019 came in at $1.97 billion. This has operating income for the quarter dropping by 19% from its fiscal second quarter of the previous year.
The Alibaba earnings report for its fiscal second quarter of the year also has it updating its outlook for the fiscal full year of 2019. The company says it is now expecting revenue for the year to range from $54.45 billion to $55.61 billion. That isn’t good news for BABA stock as Wall Street is looking for revenue of $56.66 billion for the fiscal year.
BABA stock was down 1% as of Friday morning and is down 17% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.