Alibaba stock rallies after earnings beat

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Alibaba stock rallies after earnings beat
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Alibaba Group Holding Ltd.'s U.S.-listed shares were headed 5% higher in premarket trading Thursday.

Alibaba Group Holding Ltd.’s U.S.-listed shares were headed 5% higher in premarket trading Thursday after the Chinese e-commerce giant topped earnings expectations for its December quarter.

After... Alibaba Group Holding Ltd.’s U.S.-listed shares were headed 5% higher in premarket trading Thursday after the Chinese e-commerce giant topped earnings expectations for its December quarter. After adjustments, Alibaba BABA earned RMB19.26 peer ADS, up from RMB16.87 a share a year before, while analysts were modeling RMB16.79 a share.

“We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to impact of changes in COVID-19 measures,” Chief Executive Daniel Zhang said in a release. Alibaba anticipates “continued recovery in consumer sentiment and economic activity,” he added.

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