Alibaba Earnings: BABA Stock Down Despite Q2 Earnings Beat
Alibaba earnings report for the second quarter of 2018 is out and its stock is down, despite the report being positive.
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Alibaba (NYSE:BABA) earnings report for the second quarter of the year includes earnings per share of $1.22. This is an increase over the company’s earnings per share of $1.15 from the same period of the year prior. It also comes in above Wall Street’s earnings per share estimate of $1.21 for the quarter.
Net income reported by Alibaba for the second quarter of 2018 came in at $1.16 billion. This represents a 46% increase over the company’s net income from the second quarter of 2017.
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Alibaba also reported income from operations of $$1.21 billion during the second quarter of the year. This is a 54% increase over the income from operations reported in the Alibaba earnings report for the same time last year.
The recent Alibaba earnings report also includes revenue of $12.23 billion. This has the company reporting revenue that is 61% above what was reported in the second quarter of the previous year. It also beats out analysts’ revenue estimate of $11.80 billion for the period.
Alibaba notes in its earnings report for the second quarter of 2018 that its revenue from Cloud Computing grew greatly. The company’s Cloud Computing revenue for the quarter was $710.00 million. This represents a 93% increase over the company’s Cloud Computing revenue from the same time in 2017.
BABA stock was up at the start of trading on Thursday, but is now down 1% as of Thursday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Alibaba Earnings: BABA Stock Down Despite Q2 Earnings Beat appeared first on InvestorPlace.
