Alibaba (BABA) Tops Q1 EPS by 25c
Alibaba (NYSE: BABA) reported Q1 EPS of $1.17, $0.25 better than the analyst estimate of $0.92. Revenue for the quarter came in at $7.4 billion versus the consensus estimate of $7.15 billion.
“Alibaba had a strong start to fiscal 2018, reflecting the strength and diversity of our businesses and the value we bring to customers on our platforms. Our technology is driving significant growth across our business and strengthening our position beyond core commerce,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “We are excited about the future as we continue to innovate and drive synergies among the businesses throughout the Alibaba ecosystem.”
“We delivered excellent results in the first quarter, with robust revenue growth of 56%. The significant growth in customer management revenue represents the differentiated business value we provide to our customers,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “It is our intention to continue investing in long-term growth opportunities, some of which are already delivering significant value to customers and investors.”
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