Jason Del Rey says, “Alibaba beat sales estimates for its first earnings report as a public company.

The giant Chinese e-commerce company recorded earnings of 45 cents share on revenue of $2.74 billion in the September quarter. Analysts were expecting on average earnings per share of 45 cents on $2.64 billion in revenue. Net profit, meanwhile, fell 39 percent to $485 million. The shares were up about 3 percent in early trading.

The report comes a month and a half after Alibaba went public on the New York Stock Exchange by raising $25 billion in the largest-ever IPO. Alibaba’s stock price closed on Monday at nearly $102 a share, a 10 percent increase since it started trading in September at a price of $92.70″.

Alibaba Beats Sales Estimates for Inaugural Earnings Quarter

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