Alibaba Group Holding (NYSE:BABA) posted better-than-expected second-quarter results on Tuesday.
The company posted quarterly revenue of $34.81 billion, up 5% year-over-year, surpassing the analyst consensus estimate of $34.43 billion. The adjusted earnings per American Depositary Share (ADS) came in at 61 cents, topping the analyst consensus estimate of 49 cents.
Adjusted net income declined 72% to $1.45 billion, while adjusted EBITA slipped 78% year-over-year to $1.27 billion, reflecting investments in Taobao Instant Commerce and enhancements to user experiences, acquisitions, …