5 Stocks Moving on Quarterly Reports

1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 100

Shares of Alibaba Group Holding Limited (NYSE:BABA) jumped nearly 15 percent on Thursday, May 26, 2022, after the Chinese e-commerce giant surpassed profit and sales expectations for its fiscal fourth quarter.

Alibaba Group Holding Limited (NYSE:BABA) reported adjusted earnings of $1.25 per ADS, beating the consensus of $1.10. Revenue for the quarter advanced 9 percent versus last year to $32.19 billion, surpassing the expectations of $29.94 billion.

Alibaba Group Holding Limited (NYSE:BABA) also disclosed its segment-wise sales results. Revenue from the China commerce business increased 8 percent to $22.14 billion, international commerce revenue grew 7 percent to $2.26 billion, cloud revenue jumped 12 percent to $2.99 billion and local consumer services revenue climbed 29 percent to $1.65 billion in the quarter.

Among other updates, Alibaba Group Holding Limited (NYSE:BABA) reported that its annual active customers reached 1.31 billion at the end of the quarter. Moreover, the company said that it repurchased $2 billion worth of its common stock during the three months ended March 31, 2022.

Speaking on the results, CFO Toby Xu said:

“We delivered healthy results this quarter with revenue growth of 9% year-over-year. Total revenue for the fiscal year grew 19% year-over-year, despite a challenging macro environment. Our continued investments in strategic initiatives have generated promising growth momentum and improved operating efficiency.”

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