Alibaba Group Q1 Adj. EPADS $2.26 Beats $2.13 Estimate, Sales $33.47B Miss $34.81B Estimate
Portfolio Pulse from Benzinga Newsdesk
Alibaba Group (NYSE:BABA) reported Q1 adjusted earnings per share of $2.26, beating the analyst estimate of $2.13. However, sales of $33.47 billion missed the $34.81 billion estimate. Earnings decreased by 5.83% year-over-year, while sales increased by 3.65%.
August 15, 2024 | 10:31 am
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Alibaba's Q1 earnings per share of $2.26 beat estimates, but sales of $33.47 billion missed expectations. Earnings decreased by 5.83% year-over-year, while sales increased by 3.65%.
The mixed results, with earnings beating but sales missing estimates, create a neutral short-term outlook. The decrease in earnings year-over-year is a concern, but the increase in sales provides some positive sentiment.
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IMPORTANCE 80
RELEVANCE 100