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Alibaba Tops Q2 earnings forecast, sales decline



Alibaba Group Holding Ltd. (TORTOISE) – Receive reports posted stronger-than-expected second-quarter earnings on Thursday as core e-commerce revenue rose nearly a third after China eased its coronavirus lockdown restrictions.

Alibaba said non-GAAP diluted earnings for the three months ending September, the group’s second fiscal quarter, were pegged at $ 4.83, down 63% year-on-year but firm against Pho’s consensus forecast of $ 2.08 / share. Group revenue, Alibaba said, rose 30% to the equivalent of $ 22,838 billion, but only below analysts̵

7; estimates of $ 23.19 billion.




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