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Alibaba shares gain after earnings beat

·1 min read
Alibaba shares gain after earnings beat
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The U.S.-listed shares of Alibaba Group Holding Ltd. were rising 4% in premarket trading Thursday after the Chinese e-commerce giant topped earnings expectations for its latest quarter. The company posted a fiscal fourth-quarter net loss of RMB16.24 billion ($2.56 billion), or RMB6.07 per American depositary share, compared with a loss of RMB5.5 billion, or RMB1.99 per ADS, in the year-earlier quarter. On an adjusted basis, Alibaba earned RMB7.95 per ADS, down from RMB10.32 per ADS a year before