Alibaba Reports 4Q Profit Swing as Revenue Shows Growth

Alibaba reports fiscal Q4 profit turnaround with modest revenue increase. Net income for the quarter reached 23.5 billion yuan ($3.4 billion), compared to a loss of 16.2 billion yuan ($2.6 billion) a year ago. Earnings per American depositary share were 9 yuan ($1.31), compared to a loss of 6.07 yuan (90 cents) per share last year. Adjusted earnings per share were 10.71 yuan ($1.56), surpassing analysts’ expectations. However, revenue only rose 2% to 208.2 billion yuan ($30.3 billion), slightly below analyst forecasts.

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