TheStreet TV anchor Rhonda Schaffler comments on Alibab's earnings in the video above.
NEW YORK (TheStreet) -- Shares of Alibaba (BABA) are gaining by 4.09% to $78.92 at the start of trading on Thursday morning, after the China-based e-commerce company reported its financial results for the 2016 fourth quarter.
The company's non-GAAP net income declined by 1.4% to 7.6 billion yuan, or $1.18 billion, when compared to the same quarter in 2015. Adjusted earnings came in at 3.02 yuan per share, or 47 cents per share, missing the 3.60 yuan per share analysts were looking for, Reuters noted.
However, Alibaba's revenue spiked by 39% to 24.2 billion yuan or $3.7 billion for the 2016 fourth quarter. Revenue topped Wall Street estimates of 23.22 billion yuan.
"Alibaba Group finished the fiscal year on a very strong note. In March we surpassed RMB 3 trillion in annual GMV and our revenue for the year was over RMB 100 billion. We achieved strong growth in mobile users, active buyers and transactions," Alibaba CEO Daniel Zhang said.
Separately, TheStreet Ratings has set a "hold" rating and a score of C- on Alibaba stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its notable return on equity, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, TheStreet Ratings finds that the stock has had a generally disappointing performance in the past year.