MW Alibaba reports slower-than-forecast sales, and its stock slides
By Steve Goldstein
Chinese internet giant Alibaba on Thursday reported growing earnings as sales growth came in lighter than analysts had estimated.
Alibaba reported a 22% rise in fiscal fourth-quarter adjusted profit to 29.85 billion yuan, or $4.11 billion. Adjusted earnings came in at $1.73 per American depository receipt.
Revenue rose 7% to 236 billion yuan, or $32.58 billion.
Analysts polled by FactSet expected earnings of $1.74 on revenue of $33.24 billion.
Alibaba shares $(BABA)$ slumped 5% in premarket trade. The stock has soared 58% this year.
Alibaba said the quarter was strong, helped by cloud intelligence revenue growth of 18%. It said AI-related product revenue maintained triple-digit growth for the seventh consecutive quarter.
Revenue at Taobao and Tmall Group grew 9%, the Hangzhou, China based company said.
-Steve Goldstein
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(END) Dow Jones Newswires
May 15, 2025 06:18 ET (10:18 GMT)
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