Mixed bag of quarterly results for Alibaba

Mixed bag of quarterly results for Alibaba

The Chinese retailer behemoth reported mixed figures for its fiscal fourth quarter.

Alibaba revealed an EPS of $1.58, lower than what the market expected but still 12% higher year-over-year. At the same time, revenue topped estimates, the figures coming in at $28.6 billion. It marked a 64% year-over-year increase.

It swung to an operating loss after its recent troubles with regulators, which were started in November 2020, when the $34.5 billion Ant Group IPO was pulled off. Since then, Alibaba lost more than $240 billion of its market value. Moreover, the company had to pay a $2.8 billion fine due to an anti-monopoly investigation.

For fiscal 2022, Alibaba expects a 29.65% year-on-year revenue growth.

Source: cnbc.com

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