Alibaba's Q2 Earnings Beat Puts These ETFs In Focus
Zacks Investment Research | Nov 04, 2019 11:00PM ET
Chinese e-commerce giant Alibaba Group (NYSE:BABA) reported mixed second-quarter fiscal 2020 results before the opening bell on Nov 1 wherein it beat earnings but lagged revenue expectations.
Earnings of $1.83 per ADS beat the Zacks Consensus Estimate by 28 cents and were up 36% year over year. Revenues climbed 40% year over year to $16.65 billion but fell shy of the estimated $16.72 billion. The robust results were driven by growth in its core e-commerce and cloud computing businesses. Core e-commerce revenues grew 40% year over year, cloud computing revenues soared 64%, and digital media and entertainment revenues increased 23% (see: Zacks Investment Research
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