Alibaba income beats estimates amid “strong business momentum”

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Adjusted earnings before interest, tax, depreciation, and amortization climbed by 27% compared to the corresponding three-month period to 52.05 billion yuan (1 yuan = $0.1387), above expectations of 44.77B yuan.

The value of the company’s American depositary receipts climbed by more than 3% in premarket U.S. trading Thursday.