Despite reporting unimpressive results for the fiscal first quarter, shares of Alibaba Group Holding Ltd. (NYSE:BABA) have been on the upswing lately. BABA stock lost up to 7.8% in the days following the release of the results. The stock rebounded and closed in the green on Wednesday. Further, it was trading almost 7% up at the time of writing, on Thursday. In the first quarter, the Chinese E-commerce giant reported a 29% year-over-year decline in adjusted earnings per ADS to RMB11.73. Income from operations fell 19% to RMB24.943 billion, and adjusted EBITDA decreased 18% to RMB34.419 billion. Revenues remained flat year-over-year at RMB205.555 billion.
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