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Alibaba beats by $0.01, misses on revs; announces $4 bln buyback
Reports Q1 (Jun) earnings of $0.59 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.58; rev +28% to $3.265 bln vs. $3.376 bln consensus. Ex-the effect of the suspended online lottery business and the SME loan business we transferred to Ant Financial, revenue would have increased by 36% year-over-year
- GMV transacted on our China retail marketplaces was RMB673 billion (US$109 billion), an increase of 34% year-over-year. Excluding the effect of the suspended lottery business, GMV would have increased by 36% year-over-year.
- Mobile GMV reached RMB371 billion (US$60 billion), an increase of 125% year-over-year, and accounted for 55% of total GMV transacted on our China retail marketplaces; mobile revenue was RMB7,987 million (US$1,288 million), exceeding 50% of our total China commerce retail revenue for the first time.
- Board of Directors has authorized a share repurchase program in an aggregate amount of up to US$4 billion over a period of two years, primarily to offset dilution, for example, from our share-based compensation programs.