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Alibaba Holding Co. (BABA – Get Report) reported higher-than-expected fourth-quarter results in the fourth quarter, driven by growth in consumer spending on its online market and its combination with Starbucks (SBUX – Get Report), largest coffee chain in the world, its sales and cloud sales have increased.
Alibaba said non-GAAP diluted earnings for the quarter ending March, the company's fourth fiscal quarter, stood at $ 1.27 per share, up 39.5% from the same period last year and well below the Street consensus forecast of 95 cents per share. . The group's revenues rose 41 percent to $ 13.932 billion, exceeding analysts' estimates of $ 13.33 billion.
Cloud computing revenue, according to Alibaba, rose 76 percent over last year to reach 7.726 million Chinese yuan ($ 1.12 billion), while the group continues to challenge market dominance World Wide Web (AMZN – Get Report), AWS and Microsoft (MSFT – Get Report) Azur.
"Increasingly, Alibaba is becoming synonymous with daily consumption in China, increasing our base to 654 million annual active consumers and extending our penetration into the least developed cities," said General Manager Daniel Zhang. "Our cloud technology and data technologies, along with the tremendous strength of New Retail, have allowed us to continually transform the way companies operate in China and other emerging markets, which will contribute to our long-term growth. "
Alibaba's US-listed shares recorded a 4.5% increase in pre-market trading immediately following earnings release, indicating a selling price of $ 182.46, which would have the effect of to bring the gain of the action to about 33%.
Alibaba said that its combination with Starbucks, which includes on – demand delivery, had reached 2,100 stores in 35 Chinese cities by the end of the quarter, and that its Alipay and Taobao applications had helped accelerate sales gains. membership in the Starbucks Reward Program.
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