Why Alibaba Stock Is Soaring Today

Shares of the Chinese e-commerce company Alibaba Group Holding (NYSE: BABA) spiked this morning after the company reported fourth-quarter results that beat analysts' consensus top- and bottom-line estimates. 

The tech stock was up by 12.7% as of 11:36 a.m. ET. 

Alibaba reported non-GAAP (adjusted) earnings per American depository share (ADS) of $1.25 in the quarter, which was a 23% drop from the year-ago quarter but far above Wall Street's consensus estimate of $1.10 for the quarter. 

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Source Fool.com