Alibaba Q1 Profit Down, Revenues Rise

(RTTNews) - E-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday that its first-quarter net income attributable to ordinary shareholders was RMB24.269 billion or $3.34 billion, down 29 percent from RMB34.33 billion a year ago. Earnings per ADS was RMB9.89 or $1.36, lower than RMB13.30 a year ago. Earnings per share was RMB1.24 or $0.17 or HK$1.36, compared to RMB1.66 last year.

Adjusted net income in the quarter was RMB40.69 billion or $5.60 billion, compared to RMB44.92 billion a year earlier.

Adjusted earnings per ADS was RMB16.44 or $2.26, a decrease of 5% from RMB17.37 last year. Adjusted earnings per share was RMB2.05 or $0.28 or HK$2.25, compared to RMB2.17 a year ago.

Revenue, however, grew 4 percent to RMB243.24 billion or $33.47 billion from prior year's RMB234.16 billion.

In pre-market activity on the NYSE, Alibaba shares were losing around 2.2 percent to trade at $77.75.

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