HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Wednesday reported fiscal fourth-quarter profit of $3.69 billion.
On a per-share basis, the Hong Kong-based company said it had net income of $1.50. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The online retailer posted revenue of $35.28 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $35.23 billion.
Alibaba shares have fallen 8% since the beginning of the year. The stock has risen nearly 2% in the last 12 months.
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