Alibaba earnings for the company’s fiscal fourth quarter of 2019 have BABA stock up on Wednesday.
Alibaba (NYSE:BABA) reported earnings per share of $1.28 for its fiscal fourth quarter of the year. This is up from the company’s earnings per share of 83 cents from the same time last year. It was also good news for BABA stock by beating out Wall Street’s earnings per share estimate of 96 cents for the quarter.
Alibaba earnings for its fiscal fourth quarter of 2019 also have it reporting net income of $3.48 billion. This is better than the company’s net income of $1.06 billion reported in its fiscal fourth quarter of 2018.
Operating income reported in the Alibaba earnings report for its fiscal fourth quarter of the year comes in at $1.31 billion. That’s down from the Chinese e-commerce company’s operating income of $1.47 billion reported in the same period of the year prior.
The Alibaba earnings report for its fiscal fourth quarter of 2019 also has revenue coming in at $13.93 billion. This an increase over the company’s revenue of $9.87 billion reported in its fiscal fourth quarter of the previous year. It was also a boon to BABA stock by coming in above analysts’ revenue estimate of $13.32 billion for the period.
“Looking ahead to fiscal 2020, we expect revenue to be over RMB500 billion, reflecting our confidence and positive momentum going forward,” Maggie Wu, CFO of Alibaba, said in a statement.
BABA stock was up 1% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.