RTTNews | Nov 18, 2021 10:04AM EST

10:04 Thursday, November 18, 2021 (RTTNews.com) - Shares of Alibaba Group Holding Limited (BABA) are down more than 10% in the morning trade on Thursday following fourth quarter results, that came in below analysts' view.

Net income in the fourth quarter declined to RMB3.377 million or $524 million compared with RMB26.524 billion a year ago.

Earnings per share were RMB0.25 or $0.04 compared with RMB1.31 last year.

Excluding one-time items, earnings were $1.74 per ADS, that missed the average estimate of analysts polled by Thomson Reuters at $1.93 per share.

Revenue for the quarter, however, increased 29% year-over-year at RMB200.690 billion or $31.147 billion, but missed the consensus estimate of $32.05 billion.

Looking forward to fiscal year 2022, the company expects revenue to grow 20% to 23% year-over-year. Analysts see revenue growth of 27.9% for the period.

BABA is at $144.7 currently. It has traded in the range of $138.43- $280.61 in the last 52 weeks.

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