An impressive quarter
Despite the slow Chinese (FXI) economy, Alibaba (BABA) reported better-than-expected results for fiscal 2Q16 earnings. The e-commerce titan released its fiscal second-quarter earnings on Tuesday, October 27, 2015.
Alibaba reported 3Q15 earnings of $0.57 per share on revenue of $3.5 billion. That’s an increase of 32% in revenue and 30% in EPS (earnings per share) on a year-over-year basis.
The consensus analyst estimate for Alibaba’s EPS was $0.54 on revenue of $3.4 billion.
This Chinese (MCHI) e-commerce giant reported disappointing fiscal 1Q16 earnings. Last quarter delivered the slowest growth for Alibaba in the last three years. The company reported year-over-year revenue growth of 40% in calendar 4Q14 and 45% in calendar 1Q15. However, in calendar 2Q15, its revenue growth was a meager 28%.
Amazon (AMZN), Alphabet (GOOG), and Microsoft (MSFT) are some of the major companies from the technology sector that recently reported strong results for 3Q15 earnings. Amazon reported adjusted EPS of $0.17, beating analysts’ estimate of -$0.10.
Alphabet posted revenue of $18.7 billion, again beating analysts’ estimate of $18.5 billion. Microsoft reported adjusted EPS of $0.67, beating analysts’ estimate of $0.58.