Alibaba Tops Q3 Earnings Forecast, Notes 'Substantial Uncert

Alibaba Tops Q3 Earnings Forecast, Notes 'Substantial Uncertainties' For Ant Group
TheStreet
2/2/2021
© TheStreet
Alibaba Tops Q3 Earnings Forecast, Notes 'Substantial Uncertainties' For Ant Group
Alibaba Group Holding Co. Ltd. posted stronger-than-expected third quarter earnings Tuesday thanks to a record Single's Day shopping even in November, but cautioned that the delayed IPO of Ant Group is still subject to "substantial uncertainties".
Alibaba said diluted non-GAAP diluted earnings for the three months ending in December, the group's fiscal third quarter, were pegged at $4.42 per share, well ahead of the Refinitiv-collected forecast of $3.23 pre share. Group revenues, Alibaba said, rose 37% to 221.08 billion Chinese yuan, or $34.25 billion. That also topped analysts' forecasts of a $33.04 billion tally.

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