Alibaba's fourth-quarter results beat on both the top and bottom lines, but full-year guidance came up short.
on Wednesday morning posted fourth-qarter results that topped Wall Street estimates, but gave disappointing full-year revenue guidance. Shares were up about 1% ahead of the opening bell.
Alibaba said the number of annual active consumers jumped 18% from a year ago to 654 million as mobile monthly active users climbed by 22 million to 721 million. The strong results come as the company was able to pentrate into less developed cities, improve its click-through and conversion rates, and expand its total addressable market.
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