Investing.com – Alibaba (NYSE:BABA) jumped in pre-market trade on Thursday after producing better than expected second quarter results.
Specifically, the Chinese online retailing giant reported earnings per share of $0.74, compared to expectations of $0.62.
Revenue jumped 59% year-on-year to 32 billion yuan ($4.84 billion), beating the consensus forecast for 21.03 billion.
At 11:24AM GMT, or 7:24AM ET, Alibaba jumped 4.67% to trade at $91.50 in pre-market trade, compared to Wednesday’s close of $87.41.