Alibaba Group Holding Ltd.’s U.S.-listed shares were headed 5% higher in premarket trading Thursday after the Chinese e-commerce giant topped earnings expectations for its December quarter.
After... Alibaba Group Holding Ltd.’s U.S.-listed shares were headed 5% higher in premarket trading Thursday after the Chinese e-commerce giant topped earnings expectations for its December quarter. After adjustments, Alibaba BABA earned RMB19.26 peer ADS, up from RMB16.87 a share a year before, while analysts were modeling RMB16.79 a share.
“We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to impact of changes in COVID-19 measures,” Chief Executive Daniel Zhang said in a release. Alibaba anticipates “continued recovery in consumer sentiment and economic activity,” he added.