Buy Alibaba Stock After Earnings
Buy Alibaba stock after earnings.
Investors should definitely buy Alibaba stock after releasing their earnings today. Not only did the Chinese commerce company beat their own earnings per share number (91 cents) from last year (69 cents), but they also beat analysts estimates of 86 cents.
If you invest in Alibaba stock, then you will be a part of their revenue that exceeded expectations as well. BABA generated a revenue of $9.87 billion, in comparison to Wall Street’s goals of $9.27 billion.
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Alibaba Cloud, the Chinese commerce retail business, and their international commerce retail business were all factors for such strong numbers.
One factor of this report was a bit concerning: Their net income, $1.06 billion, was lower than last year’s numbers during the same time by around 33%.
At the end of this trading day, BABA’s stock price was $188.89. This company does have competition from Amazon, JD.com, Tencent, and Walmart. These numbers, though, prove that there is no stopping Alibaba…for now.
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