(NYSE: BABA) posted its latest earnings report on Aug. 10. For the first quarter of fiscal 2024, which ended on June 30, the Chinese e-commerce and cloud leader's revenue rose 14% year over year to 234.2 billion yuan ($32.3 billion) and beat analysts' estimates by $1.1 billion. Its adjusted net income grew 48% year over year to 44.9 billion yuan ($6.2 billion), or $2.40 per ADS, which also cleared the consensus forecast by $0.39.
Does that earnings beat indicate it's safe to buy Alibaba stock again? Let's weigh the bullish and bearish cases to decide.
Image source: Alibaba.
Source Fool.com