BEIJING (dpa-AFX) - Chinese e-commerce giant Alibaba Group Holding Limited (BABA) Thursday reported improved earnings in the first quarter helped by growth in revenue on strong business momentum.
Net income attributable to ordinary shareholders increased to $4.735 billion or RMB34.332 billion, from RMB22.739 billion in the same quarter a year ago.
Earnings per ADS rose to $1.83 or RMB13.30 from RMB8.51 last year. Excluding one-time items, adjusted earnings were $6.195 billion or $2.40 per ADS.
Earnings per share for the quarter was RMB1.66 or $0.23, and adjusted earnings per share was RMB2.17 or $0.30.
Analysts on average, poled by Thomson-Reuters were expecting earnings of $2.02 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter increased 14% year-over-year to $32.292 billion. The consensus estimate was for $31.2 billion.
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