Alibaba (NYSE:BABA) earnings for the Chinese e-commerce company’s fiscal second quarter of 2019 have BABA stock moving on Friday. That comes after reporting Non-GAAP per-share earnings of $1.83. This is above Wall Street’s estimate of $1.50 for the quarter. Revenue of $16.65 billion is also better than analysts’ estimates of $16.47 billion.
Let’s take a closer look at the Alibaba earnings report for fiscal Q2 2019.
- Non-GAAP EPS is up 30.71% from $1.40 in the fiscal second quarter of 2018.
- Revenue for the most recent quarter is up 40% year-over-year.
- Income from operations of $2.85 million is a 51% increase from the same time last year.
- Net income comes in at $10.15 million.
- BABA also saw annual active consumers on China markets increase 19 million from Q2 2018 to 693 million during the quarter.
- Mobile monthly active users on China markets were up by 30 million to 785 million from June 2019.
Maggie Wu, Chief Financial Officer of Alibaba, has this to say about the BABA stock earnings.
“We delivered a strong quarter with revenue growth of 40% and adjusted EBITDA up 39% year-over-year. With sustained consumer engagement and
spending across the Alibaba Economy, we have continued our revenue and profit growth, as well as strong free cash flow that enable us to invest in long-term growth.”
Alibaba stock started the day out up on Thursday. It saw as much as a 3% increase before settling down closer to its closing price from Thursday. The stock is up 29.19% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.