HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal second-quarter net income of $3.8 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Hong Kong-based company said it had profit of $1.48. Earnings, adjusted for stock option expense and non-recurring costs, were $2.14 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The online retailer posted revenue of $30.81 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $31.01 billion.
Alibaba shares have dropped 1% since the beginning of the year. The stock has increased almost 10% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BABA at https://www.zacks.com/ap/BABA