Alibaba reported earnings of 48 cents a share for the fiscal fourth quarter, beating analysts' estimates of 42 cents a share for the quarter. The Chinese e-commerce company said revenue grew 44.8% year over year to $2.81 billion for the quarter, above analysts' estimates of $4.78 billion.
Alibaba also announced that current COO Daniel Zhang will take over as the company's CEO on May 10.
Yahoo! owns 15.4% of Alibaba's outstanding shares, according to the company's latest regulatory filing. The U.S. company announced in January that it plans to spin off its stake in Alibaba, though the spin off is not expected to close until the fourth quarter of 2015.
TheStreet Ratings team rates YAHOO INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAHOO INC (YHOO) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."