Alibaba Q3 Profit Jumps 60%, Exceeding Analyst Estimates
Alibaba Group Holding Ltd. (BABA) reported a surge in fiscal third-quarter profit on Thursday, surpassing market expectations.
* Q3 Profit: $6.71 billion, up 60% year-over-year
* Earnings per Share (EPS): $2.79
* Adjusted EPS: $2.93, exceeding analysts' estimates of $2.86
* Revenue: $38.38 billion, a 37% increase
Alibaba's strong performance was driven by robust demand for its e-commerce and cloud computing businesses. The company's shares have soared 48% year-to-date and 72% over the past year.
Analysts remain optimistic about Alibaba's growth prospects, citing its leadership in China's digital economy and continued expansion into new markets.