Alibaba earnings for the company’s fiscal third quarter of 2018 have BABA stock up on Wednesday.
Alibaba (NYSE:BABA) reported earnings per share of $1.77 for its fiscal third quarter of the year. This is better than the company’s earnings per share of $1.53 reported during the same time last year. It was also a boon to BABA stock by beating out Wall Street’s earnings per share estimate of $1.68 for the quarter.
The most recent Alibaba earnings report also sees it announcing net income of $4.50 billion. This represents a 33% increase over the company’s net income from its fiscal third quarter of 2017.
The Alibaba earnings report for its fiscal third quarter of 2018 also includes operating income of $3.90 billion. That’s 3% higher than the Chinese e-commerce and internet company’s operating income reported for the same period of the year prior.
Alibaba earnings for its fiscal third quarter of the year also has it reporting revenue of $17.06 billion. This is up from the company’s revenue of $12.36 billion reported in its fiscal third quarter of the previous year. However, this wasn’t able to match up to analyst’ revenue estimate of $17.68 billion for the period, but that wasn’t keeping BABA stock down today.
Alibaba notes that it saw revenue increases throughout the quarter in several of its units. This includes core commerce revenue increasing by 40% and cloud computing revenue going up by 84%. It also saw digital media and entertainment revenue increase by 20% and innovation initiatives revenue go up by 73% during the quarter.
BABA stock was up 4% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.