5 Key Earnings Reports to Watch

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 96

Alibaba Group Holding Limited (NYSE:BABA) recently came into the limelight after announcing the financial results for its fiscal third quarter. The Chinese e-commerce behemoth reported adjusted earnings of $2.65 per ADS, down 23 percent on a year-over-year basis.

Revenue for the quarter rose 10 percent versus last year to $38.07 billion. Analysts expected Alibaba Group Holding Limited (NYSE:BABA) to report earnings of $2.55 per ADS on sales of $38.83 billion.

If we look at the performance of its flagship businesses, revenue from the China commerce segment increased 7 percent to $27.03 billion, while cloud revenue jumped 20 percent to $3.07 billion. In comparison, local consumer services revenue jumped 27 percent to $1.91 and international commerce revenue surged 18 percent to $2.58 billion in the quarter.

Among other updates, Alibaba Group Holding Limited (NYSE:BABA) reported that annual active consumers across its global ecosystem reached 1.28 billion during the 12 months ended December 31.

Commenting on the quarter, CEO Daniel Zhang said:

“Alibaba delivered steady progress this quarter as we continued to execute our multi-engine growth strategy in a complex and volatile market environment. We achieved positive momentum in key strategic businesses through a disciplined focus on capacity building and value creation to fuel our future growth.”