Alibaba Earnings Surge Boosts Valuation Ahead of IPO
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Alibaba Group Holding Ltd. posted a surge in fourth-quarter profit as analysts raise their valuation ahead of a potential U.S. initial public offering by China’s largest e-commerce company.
Net income attributable to ordinary shareholders more than doubled to $1.35 billion in the three months ended December, according to a presentation yesterday from Yahoo! Inc., which owns a 24 percent stake in the Hangzhou, China-based company. Alibaba was valued at $153 billion in February, according to the average estimate of 10 analysts compiled by Bloomberg.