China e-commerce giant Alibaba Group Holding Ltd. on October 2 reported stronger-than-expected second-quarter results of CNY 85.1 billion (USD 12.4 billion), which surged 54 per cent year-on-year.
Its earnings per share is CNY 7.62 (USD 1.11), beating analysts’ estimate of USD 1.08 a share. Revenue from the core commerce business grew 56% year-over-year, while mobile monthly active users on the retail platform rose 5% from the June quarter to 666 million.
But the company lowered its revenue outlook for full fiscal year 2019, citing “fluid macro-economic conditions.”
Source: Caixin Global