Investing.com - China's biggest e-commerce firm Alibaba Group Holdings (NYSE:BABA) saw shares rise in pre-market trade on Tuesday, after reporting better than expected second quarter earnings ahead of the opening bell.
Alibaba said it earned $0.45 cents per share in the three months ending September 30, in line forecasts.
The company’s second quarter revenue totaled $2.74 billion, beating estimates for revenue of $2.64 billion.
The company's second-quarter earnings report is the first after its IPO in September.
"We delivered a strong quarter with significant growth across our key operating metrics," said Jonathan Lu, chief executive officer of Alibaba Group.
"Our business continues to perform well, and our results reflect both the strength of our ecosystem and the strong foundation we have for sustainable growth," he added.
Annual active buyers China retail marketplaces had 307 million annual active buyers in the twelve months ended September 30, compared to 279 million in the preceding quarter and 202 million in the same period a year earlier.
Immediately after the earnings announcement, Alibaba (NYSE:BABA) shares rose 3.4% in trading prior to the opening bell.
Meanwhile, U.S. stock futures pointed to a modestly lower open. The Dow futures pointed to a loss of 0.05% at the open, the S&P 500 futures indicated a decline of 0.1%, while the Nasdaq 100 futures signaled a fall 0.1% at the open.