Will Alibaba's Earnings Dull The Shine Of These ETFs?
Zacks Investment Research | May 18, 2017 10:11PM ET
Chinese e-commerce giant Alibaba Group (NYSE:BABA) reported fourth-quarter fiscal 2017 results after the closing bell yesterday. While the revenue performance was encouraging, profitability was a big disappointment as it took hit from a higher tax bill.
Earnings of 39 cents per ADS came in below the Zacks Consensus Estimate of 47 cents. Revenues jumped 60% year over year to $5.6 billion and surpassed our estimate of $5.18 billion. Robust performance was credited to the growing core e-commerce business, booming cloud computing services and strong media and entertainment growth.
Core e-commerce revenue grew 47% year over year, cloud computing revenue soared 103% while digital media and entertainment revenue skyrocketed 234%. Mobile monthly active users on its China retail marketplaces increased 24% year over year to 507 million while annual active buyers reached 454 million, up 7% year over year (read: Zacks Investment Research
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