Alibaba Group Holding Co. (BABA) - Get Report posted stronger-than-expected fourth quarter earnings Friday, as China's months-long lockdown boosted online sales for Asia's most valuable tech company.
Alibaba said diluted non-GAAP earnings for the three months ending in March, the company's fiscal third quarter, were pegged at $1.30 per share, topping Wall Street's estimate of around 86 cents per share. Group revenues, Alibaba said, rose 22% from last year to $16.144 billion, again topping analysts' estimates of a $15.28 billion tally. Cloud computing revenues, Alibaba said, rose 58% to a record $1.725 billion.
Alibaba said diluted non-GAAP earnings for the three months ending in March, the company's fiscal third quarter, were pegged at $1.30 per share, topping Wall Street's estimate of around 86 cents per share. Group revenues, Alibaba said, rose 22% from last year to $16.144 billion, again topping analysts' estimates of a $15.28 billion tally. Cloud computing revenues, Alibaba said, rose 58% to a record $1.725 billion.
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