Alibaba Earnings Decline In Q1

(RTTNews) - Alibaba Group Holding Ltd. (BABA, 9988.HK, HBBD.SI), a Chinese technology company, on Thursday reported lower net income in the first quarter compared with the previous year.

For the first quarter, net income attributable to the ordinary shareholders decreased 76 percent to RMB 10.54 billion, or $1.55 billion from RMB 43.12 billion in the previous year.

Earnings per share were RMB 0.46, $0.07 versus RMB 2.25 last year.

Earnings per ADS attributable to the ordinary shareholders were RMB 3.71, $0.55 versus RMB 17.98 last year.

On an adjusted basis, net income decreased 38 percent to RMB 20.72 billion, or $3.05 billion from RMB 33.51 billion in the previous year.

Adjusted net income attributable to the ordinary shareholders fell to RMB 20.58 billion, or $3.03 billion from RMB 35.29 billion in the previous year.

Adjusted earnings per share were RMB 1.07, or $0.16 versus RMB 1.84 last year.

Adjusted earnings per ADS were RMB 8.52, or $1.26 versus RMB 14.75 last year.

Adjusted EBITDA slid 14 percent to RMB 39.14 billion, or $5.77 billion from RMB 45.74 billion in the same period a year.

Income from operations decreased 57 percent to RMB 15.16 billion, or $2.23 billion from RMB 34.99 billion in the prior year.

Revenue increased to RMB 268.95 billion, or $39.64 billion RMB 247.65 in the previous year.

In the pre-market trading, Alibaba Group is 1.64% lesser at $126.91 on the New York Stock Exchange.