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Alibaba (NYSE: BABA) 3Q19 Results: Solid Growth Driven by Core Commerce and Cloud Segments

Executive Summary

  • Alibaba reported 3Q19 revenues of ¥117.3 billion ($17.1 billion), up 41% year over year as its China retail marketplaces and cloud business performed well.
  • 3Q19 revenues missed the consensus estimate of ¥119.4 billion while non-GAAP diluted EPS of ¥12.19 beat the consensus estimate of ¥11.21.
  • Management remains vigilant of China’s uncertain economy, so will seek development in new areas and pursue global expansion to sustain growth.

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