Alibaba revenue soars 61%

Alibaba reported strong revenue growth on Thursday morning.

The Chinese e-ecommerce giant said revenue soared 61% year-over-year to 80.9 billion yuan, edging out the 80.88 billion that analysts surveyed by Bloomberg were expecting.

Alibaba reported net imcome attributable to shareholders of 8.7 billion yuan. That number was impacted by an 11.5 billion yuan hit as a result of an increase in the valuation of ANT Financial causing shares given to Alibaba employees to be more expensive.

Diluted earnings per share of 3.3 yuan easily beat the 2.57 yuan that was anticipated. Adjusted EPS came in at 8.04 yuan, missing the 8.19 yuan that was expected.

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