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Alibaba (BABA) tops Q1 earnings estimates, approves Cloud Intelligence Group spin-off

May 18, 2023 7:52 AM EDT

Alibaba (NYSE: BABA) topped first-quarter earnings estimates but missed revenue expectations on Thursday.

The Chinese technology giant reported Q1 EPS of RMB10.71, RMB1.25 better than the analyst estimate of RMB9.46. However, revenue of RMB208.2 billion in the quarter, which rose 2% YoY, was below the consensus estimate of RMB209.02... More