Alibaba Holdings’ share in pre-conference trading fell by 3%, as the Chinese e-commerce company announced results that were lower than expected.
Alibaba reported second-quarter net profit of 5.4 billion yuan ($ 833 million) or 1.97 yuan per ADS, down from 28.8 billion yuan or 10.48 yuan per ADS a year ago .
On a customized basis, Alibaba traded up 11.20 yuan per ADS from 17.97 yuan a year ago, and 11.86 yuan as analysts had expected.
“This quarter, Alibaba continued to invest steadily in our three strategic pillars, domestic consumption, globalization and cloud computing, to lay a solid foundation for the long-term goal of sustainable development in the future,” said CEO Daniel Zhang. .
Revenue rose to 200.7 billion yuan from 155.1 billion yuan, with analysts expecting 204.1 billion yuan.
The company pointed out that in the 12 months to September 30, it had 1.24 billion active customers, a number that represents an increase of 62 million from the June data.
Alibaba now expects 2022 revenue growth of 20% -23%.
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Source From: Capital
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