Alibaba ( BABA ) reported quarterly results early Thursday that beat estimates on the top and bottom lines, as the China e-commerce giant fought through softer demand and supply chain woes. BABA stock jumped in premarket action. The company reported adjusted earnings of $2.79 a share on revenue of $35.92 billion. Analysts expected Alibaba to show earnings of $2.44 a share on revenue of $35.8 billion, according to FactSet. Revenue rose 2% from the year-ago period. Earnings jumped 14%. BABA stock jumped 6.2%, near 100.65, during pre-market action on the stock market today . The results were for Alibaba’s fiscal third quarter ended Dec. 31. "We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to the impact of changes in Covid-19 measures," Chief Executive Daniel Zhang said in a written statement with the Alibaba earnings report . Several of China’s largest internet players, including JD.com ( JD ) and PDD Holdings ( PDD ) — formerly Pinduoduo — tumbled on Feb. 21. That was in reaction to news that JD.com plans to spend $1.5 billion to create a subsidiary to rival PDD Holdings. That raised fears of increased competition ahead. Alibaba, JD and PDD […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
