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Alibaba (BABA) reported first quarter 2021 results before the open on Thursday. Revenue for the quarter was 187.395 billion yuan, an increase of 64% and ahead of the forecasted 180.41 billion yuan. The quarterly net loss was 7.6 billion yuan due to a fine from the Chinese regulator. Earnings per share (EPS) were $1.88 ahead of the $1.78 estimate.
Mobile monthly average users were 925 million, up 23 million from December.
BABA stock forecast
BABA shares are trading at $219 in premarket trading on Thursday, a loss of 0.4%.
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