Credit: Reuters/Chance Chan
Alibaba's logo is seen at its headquarters on the outskirts of Hangzhou, Zhejiang province April 23, 2014.
The profit miss was due to share-based compensation expenses and an increase in amortization of intangible assets, the company said.
Net income attributable to shareholders fell 38.6 percent year on year to $494 million in its second quarter to Sept. 30, underperforming analyst estimates of $1.17 billion, according to a Thomson Reuters SmartEstimate poll of 21 analysts.
Revenue for the quarter rose 53.7 percent to 16.83 billion yuan ($2.75 billion), above expected sales of $2.7 billion. Mobile revenue was more than ten times higher than in the same period last year. Diluted earnings per share were $0.20.
Alibaba shares were up 2.8 percent in pre-market trading in New York, from $101.80 at Monday's close.
(Reporting by Paul Carsten; Editing by David Goodman)
Posted by Unknown on Tuesday, November 4, 2014 - Rating: 4.5
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