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Alibaba is popping after earnings (BABA)

Alibaba crushed its first quarter earnings report, released before the market opened Thursday. The Chinese e-commerce giant posted earnings of $0.82 per share, compared to Wall Street's estimate of $0.61. Revenue came in at $7.322 billion, which was above estimates of $7.186 billion. Shares of Alibaba are up 4.68% in early trading Thursday after the earnings beat. Alibaba gained 86% of its total revenue from online retail, but saw a huge jump in its cloud business.
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