Alibaba’s Earnings Aren’t Terrible. The Stock Is Tumbling Anyway.
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Alibaba stock was plunging Thursday after the Chinese tech giant reported profits, however the results themselves weren’t entirely to blame.
The e-commerce and cloud computing powerhouse published profits of $38.1 billion for the last 3 months of 2021, which Alibaba reports as its 3rd quarter of financial year2022 Earnings priorto interest, taxes, and amortization (EBITA)—the chosen changed procedure of revenue—was $7 billion, providing profits per share of $2.65.