Yahoo Finance is tracking Alibaba, Walmart and Gap in intraday trading on Thursday.
Alibaba shares hit all-time high
The Chinese e-commerce giant topped analyst expectations on both the top and bottom lines during its fiscal first quarter. Alibaba (BABA) reported earnings per share of $1.17 and revenue of $7.4 billion. Analysts were forecasting adjusted earnings of 93 cents and sales of $7.1 billion. The number of monthly active users jumped 24% while revenue from its cloud computing unit soared 96%.
Alibaba’s earnings beat comes just a few days after hedge fund titans Dan Loeb, David Tepper, Stan Druckenmiller and Julian Robertson revealed in quarterly filings that their firms bought stakes of the e-commerce giant in the second quarter. Alibaba shares have soared 90% so far this year.
Walmart beats earnings estimates on both top and bottom lines
The retail giant posted earnings per share of $1.08 on revenue of $123.36 billion, topping analysts’ estimates of $1.07 a share and sales of $122.84 billion. Same-store sales rose 1.7%, in line with Wall Street expectations. A big driver for Walmart (WMT) last quarter was its e-commerce division, where sales grew 63%. Shares of Walmart are down 2.1% in intraday trading as of Noon ET.
Gap earnings: What to watch
Gap (GPS) is scheduled to report earnings after the bell this afternoon. Wall Street is forecasting earnings of 52 cents a share on revenue of $3.77 billion. Investors will be keeping a close eye on sales at the company’s Banana Republic and Gap brands, two areas of weakness for the retailer last quarter. Gap shares have fallen about 7% over the past six months.
For more on Thursday’s big stock movers and breaking earnings after the bell, check out The Final Round, starting at 3:55 p.m. ET, right here on Yahoo Finance.