Alibaba blew through analysts’ earnings estimates, lifting revenues 54 per cent to Rmb53.25bn ($7.7bn) in its quarter to the end of December and prompting the Chinese ecommerce group to lift its full-year growth guidance to 53 per cent.
The internet group, a member of China’s “BAT” tech trinity with Baidu and Tencent, also proved adept at squeezing more profitability from revenues than Amazon, posting net income of Rmb17.16bn for the quarter.
Consensus analyst estimates were for revenues of Rmb50.09bn, according to Bloomberg, and earnings before interest, tax, depreciation and amortisation of Rmb24.82bn. Adjusted ebitda came in at Rmb27.02bn, up 41 per cent.
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