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Alibaba Sees Huge Growth From the Cloud

Alibaba Group Holding Ltd. (NYSE: BABA) released its fiscal first-quarter financial results before the markets opened on Thursday. The Chinese e-commerce giant said that it had $ 1.17 in earnings per share (EPS) and $ 7.4 billion in revenue, which compared with consensus estimates of $ 0.93 in EPS and revenue of $ 7.13 billion. The same period of last year reportedly had EPS of $ 0.74 and $ 4.84 billion in revenue.

During the quarter, annual active consumers on Alibaba’s China retail marketplaces reached 466 million, an increase of 12 million from the 12-month period ended…
24/7 Wall St.

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