Chief Executive of Alibaba Group Holding Limited (NYSE:BABA) [Detail Analytic Report], Daniel Zhang commented during fourth quarter conference call that they have completed the fiscal year on a very strong note. In March they surpassed RMB3 trillion in annual GMV and their revenue for the year was more than RMB100 billion. They achieved strong growth in mobile users, active buyers and transactions. Zhang added their focus on long-lasting strategic priorities globalization, rural extension, building an outstanding cloud computing business and creating a comprehensive media and entertainment platform has laid a strong base for future growth.
Alibaba reported that its fiscal Q4 earnings jumped 85 percent as sales volume in the Chinese e-commerce giant’s home market surged, but adjusted earnings missed expectations on Wall Street. Net income in the three months completing March 31 climbed to 5.36 billion Chinese yuan from 2.89 billion yuan. Earnings adjusted for one-time gains and costs totaled 47 cents a share, and revenue jumped 39 percent to 24.18 billion yuan.
Maggie Wu, Chief Financial Officer of Alibaba stated that their excellent results in the period reflect the unique strength of their core e-commerce business despite challenging economic conditions, as well as the emerging momentum of their balanced portfolio of businesses from mobile media to cloud computing. As a result, they achieved accelerating year-over-year revenue growth of 39%, which was the highest revenue growth rate for the previous four quarters.
Sally Beauty Holdings Inc. (NYSE:SBH) [Detail Analytic Report] announced profit of $60.2 million in its fiscal second quarter. The Texas-located firm reported that it had net income of 41 cents a share. Earnings, revised for non-recurring costs and asset impairment costs, were 42 cents a share. The results beat Wall Street outlooks. The average estimate of experts polled by Zacks Investment Research was for earnings of 41 cents a share.
Sally Beauty declared revenue of $980.1 million in the quarter, also topping Street forecasts. According to analysts polled by Zacks expected $959.8 million. Shares of Sally Beauty have soared 15 percent since the starting of the year. The stock has surged almost 5 percent in the previous twelve months. Commenting on the results President and Chief Executive Officer of Sally Beauty, Chris Brickman stated that their second quarter results were consistent with their expectations.
Brickman added their BSG business continued to deliver strong results, and, as anticipated, Sally experienced some modest sales headwinds during the period. The transition to a solution-based offering in their second largest category in all 3,000 Sally stores was a major undertaking, and the team did an outstanding job of executing on this initiative in a short period of time. He believe the changes they implemented, combined with the additional investments made in TV advertising during March, will further their efforts to drive traffic and sales growth from the retail customer.
Fiserv, Inc. (NASDAQ:FISV) [Detail Analytic Report] declared its Q1 earnings of $289 million. On a per-share basis, Fiserv disclosed that it had profit of $1.27. Earnings, revised for one-time gains and costs, came in $1.06 a share. Chief Executive Officer of Fiserv, Jeffery Yabuki stated that they are pleased with their start to the year including 7 percent internal revenue growth in the Payments segment and excellent operating performance.
According to Yabuki, their business model continues to produce high-quality revenue, strong adjusted earnings a share and outstanding free cash flow. The first quarter results beat Wall Street anticipations. The average estimate of experts polled by Zacks Investment Research was for earnings of $1.02 a share. The financial services technology firm announced revenue of $1.33 billion in the quarter, which missed Street forecasts.
Fiserv expects full-year earnings to be $4.32 to $4.44 a share. Shares of Fiserv have rose 8.5 percent since the starting of the year, while the S&P 500 index has stayed nearly flat. Yabuki added their results in the period were ahead of plan and they are well on their way to meet their 2016 financial objectives.