BUZZ-U.S.-listed shares of Alibaba rise on Q3 revenue beat

Reuters
02-20
BUZZ-U.S.-listed shares of Alibaba rise on Q3 revenue beat

** U.S.-listed shares of Chinese e-commerce company Alibaba BABA.N 9988.HK jump nearly 7% to $134.7 in premarket trading

** Co reports revenue of 280.15 bln yuan ($38.58 bln) for quarter ended Dec. 31, beating analysts' estimates of 279.61 bln yuan - LSEG data

** Revenue boosted by strong year-end shopping sales and success of its strategy to attract cost conscious consumers

** Co reports Q3 adjusted profit of 21.39 yuan per American Depository Share, beating ests. of 19.61 yuan per share

** Stock up over 48.3% YTD, as of last close; it rose 10.3% in 2024

($1 = 7.2613 Chinese yuan renminbi)

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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