Alibaba Group Holding Ltd (NYSE:BABA)’s first ever quarterly performance report was the kind of earnings call an American company would make, Jim Cramer said in a discussion on CNBC’s Markets Now.
Alibaba Group Holding Ltd (NYSE:BABA) reported a revenue of $2.74 billion, up 54%, and merchandize volume of $90.53 billion across all of its properties making the company the largest electronic commerce firm in the world in terms of volume, bar none.
“It was a fabulous conference call. My friend Jane Penner [Alibaba head of investor relations] who used to work with me at the Street, knows exactly how to orchestrate a call. She is the Toscanini of conference calls,” Cramer said.
Alibaba Group Holding Ltd (NYSE:BABA) hired Penner in July from Google Inc (NASDAQ:GOOGL) where she worked since 2008 after moving from Bear Strearns Cos.
“This is a giant and that conference call was like an American company. There was nothing in there that made it seem like that there was anything other than this is a great American company that happens to be based in China,” Cramer said.
In another part of the interview, Cramer said that people love Alibaba Group Holding Ltd (NYSE:BABA)’s performance in terms of its mobile monetization. The company revealed during its earnings call, its first ever since its record-setting New York Stock Exchange listing on September, that mobile contributed 29% of its revenue, up from 19%.
Cramer is very optimistic about Alibaba Group Holding Ltd (NYSE:BABA)’s stock price saying “it’s very difficult to try to value this stock at anywhere below $120.”