Investing.com -- Alibaba (NYSE:BABA) has posted first-quarter adjusted core income that topped analyst estimates, with the Chinese e-commerce giant saying it was boosted by strong momentum across its businesses and a focus on operating efficiencies.
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.