Alibaba Group Holding (BABA) shares are trading higher after the company reported better-than-expected first-quarter EPS and sales results.
Alibaba reported first-quarter earnings of $1.83 per share, which beat the analyst consensus estimate of $1.46. This is a 50% increase over earnings of $1.22 per share from the same period last year.
The company reported quarterly sales of $16.741 billion, which beat the analyst consensus estimate of $15.82 billion. This is a 36.90% increase over sales of $12.229 billion the same period last year.
"Alibaba had a great quarter, expanding our user base to 674 million annual active consumers, demonstrating our superior user experience," said CEO Daniel Zhang. "We will continue to expand our customer base, increase operating efficiency and deliver robust growth. With strong cash flow from our core commerce business, we will continue to invest in technology and bring digital transformation to millions of businesses globally."
Alibaba shares were trading up 2.41% at $165.97 in Thursday’s pre-market session. The stock has a 52-week high of $195.72 and a 52-week low of $129.77.
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