HONG KONG (AP) _ Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal first-quarter profit of $3.4 billion.

The Hong Kong-based company said it had profit of $1.27 per share. Earnings, adjusted for one-time gains and costs, came to $1.75 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The online retailer posted revenue of $30.69 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $31.15 billion.

Alibaba shares have fallen 19% since the beginning of the year. The stock has dropped 52% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BABA at https://www.zacks.com/ap/BABA

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