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“Alibaba Earnings Top Expectations…”

Alibaba (BABA) reported quarterly results before the market open Friday that beat estimates as total gross merchandise volume for the year hit a record $1 trillion. Alibaba stock fell.

The China e-commerce giant reported adjusted earnings of $1.30 per share, up from $1.28 a year earlier. Revenue grew 22% in local currency to $16.14 billion. Wall Street expected earnings of 85 cents on revenue of $15.1 billion. The results were for its fiscal fourth quarter for the period ended March 31…”

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