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Company Earning Updates 3 minutes

Alibaba (NYSE: BABA) 1Q20 Results: EPS Beats Estimates, Strong Revenue Growth Driven by China Marketplaces and Cloud Segment

Coresight Research

Key Points

  • Alibaba reported 1Q20 revenue of ¥114.9 billion ($16.7 billion), up 42.0% year over year but below the consensus estimate of ¥115.6 billion.
  • 1Q20 revenue came in below the consensus estimate of ¥115.6 billion, while non-GAAP diluted EPS of ¥12.55 beat the consensus estimate of ¥10.28.
  • The company remains confident to deliver robust growth despite economic uncertainty, given China’s growing middle class, urbanization in lower-tier cities and rapid expansion of digitalization.

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