On the previous trading day, Alibaba's share price closed at $162.06.
Alibaba stock price (Source: Sina Finance)
Alibaba today released its first quarter financial report for the 2020 fiscal year ending June 30, 2019. (Note: Alibaba's fiscal year is not synchronized with the natural year, starting from April 1 of each year to March 31 of the second year. End of the day).
In the first quarter, Alibaba's revenue was RMB 114.924 billion (approximately US$16.741 billion), compared with RMB 80.92 billion in the same period last year, a year-on-year increase of 42%. The market expectation was RMB 111.734 billion.
Net profit attributable to ordinary shareholders was RMB 21.252 billion (approximately US$ 3.094 billion), representing a year-on-year increase of 145%. Not based on US GAAP, net profit was RMB 30.949 billion (US$4.508 billion), a year-on-year increase of 54%.
On average, 26 Wall Street analysts predict that Alibaba's diluted earnings per share for the quarter will be $1.46, according to Non-GAAP. The earnings report shows that Alibaba's diluted earnings per share for the first quarter was RMB 12.55. (about $1.83), higher than analysts expected.
On average, 27 analysts on Wall Street expected Alibaba's revenue to be $15.82 billion in the quarter. The financial report showed that Ali's total net revenue for the first quarter was $16.741 billion, higher than analysts' expectations.