BEIJING (dpa-AFX) - Alibaba Group Holding Ltd (BABA) revealed earnings for its second quarter that increased from last year.
The company's profit came in at RMB70.75 billion, or RMB3.44 per share. This compares with RMB26.52 billion, or RMB1.31 per share, in last year's second quarter.
Excluding items, Alibaba Group Holding Ltd reported adjusted earnings of RMB32.75 billion or RMB1.64 per share for the period.
Analysts had expected the company to earn RMB2.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 23.2% to RMB119.02 billion from RMB155.06 billion last year.
Alibaba Group Holding Ltd earnings at a glance:
-Earnings (Q2): RMB32.75 Bln. vs. RMB47.09 Bln. last year. -EPS (Q2): RMB1.64 vs. RMB2.25 last year. -Analysts Estimate: RMB2.11 -Revenue (Q2): RMB119.02 Bln vs. RMB155.06 Bln last year.
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