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Technology Stocks : Alibaba Group Holding Limited
BABA 175.46-2.5%12:40 PM EDT
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From: Julius Wong8/4/2022 8:21:32 AM
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Alibaba Non-GAAP EADPS of $1.75 beats by $0.19, revenue of $30.69B beats by $530M

Aug. 04, 2022 6:36 AM ET Alibaba Group Holding Limited (BABA)By: Niloofer Shaikh, SA News Editor 23 Comments

Alibaba press release (NYSE: BABA): FQ1 Non-GAAP EPADS of $1.75 beats by $0.19.

Revenue of $30.69B beats by $530M, stable Y/Y primarily due to a decline in China commerce segment revenue by 1%.

Shares +5.5% PM.

“Despite the challenges posed by the COVID-19 resurgence, we delivered stable revenue performance year-over-year. We have narrowed losses in key strategic businesses given ongoing improvements in operating efficiency and increasing focus on cost optimization,” said Toby Xu, Chief Financial Officer of Alibaba Group. “We recently shared our plan to add Hong Kong as another primary listing venue. By becoming primary listed on both Hong Kong and New York stock exchanges, we aim to further expand and diversify our investor base.”
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