Here's Why Shares of Alibaba are Higher in Wednesday's Session

Alibaba (BABA) - Get Report shares were higher Wednesday after posting results which beat analyst expectations for the latest quarter. Earnings of $0.79 a share beat estimates by nine cents. Revenue of $5.1 billion also surpassed Wall Street's expectations. "Our highly profitable and cash flow generative core commerce business enables us to invest in our future growth areas of cloud computing, digital media and entertainment and innovation initiatives," said CFO Maggie Wu in a statement.

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