HANGZHOU, China (AP) _ Alibaba Group Holding Ltd. (BABA) on Thursday reported a loss of $2.56 billion in its fiscal fourth quarter.
The Hangzhou, China-based company said it had a loss of 96 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The online retailer posted revenue of $32.19 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $30.54 billion.
Alibaba shares have declined 31% since the beginning of the year. The stock has decreased 61% 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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