Alibaba reported strong earnings and revenue that beat market estimates for its fiscal first quarter, which sees its stock soar. Specifically, the Chinese e-commerce giant reported revenue of 205.55 billion yuan ($30.68 billion) against estimates of 203.19 billion yuan. On the profitability side, net income came in at 22.73 billion yuan versus a forecast of […]
Tag: Alibaba
Alibaba: Best-in-quarter earnings estimates
Quarterly earnings for the Alibaba Group were better than expected, as increased demand for some of China’s specialist online services offset the low key market activity caused by coronavirus restrictions in the country. Alibaba shares in the US, which have lost a third of their value so far this year, rose 5% in pre-conference trading. […]
Possible cooperation was discussed by Ad. Georgiadis with Alibaba’s Head of European Affairs
The pro-investment environment in Greece and the opportunities for possible cooperation were discussed today by the Minister of Development and Investment, Adonis Georgiadis, with the Head of International Government Affairs of Europe of Alibaba, Manfredi Minouteli. According to a post by the Ministry of Development and Investment on twitter: “Minister of Development and Investment Adonis […]
Alibaba results lower than estimated, the share falls 3%
Alibaba Holdings’ share in pre-conference trading fell by 3%, as the Chinese e-commerce company announced results that were lower than expected. Alibaba reported second-quarter net profit of 5.4 billion yuan ($ 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 […]
Alibaba Group’s revenue exceeded $ 31 billion in the last quarter
Holding Alibaba Group, which, in particular, owns such well-known marketplaces as AliExpress and Taobao, published a report for the quarter ended June 30. The Chinese e-commerce giant is seeing strong year-over-year growth. It is driven by an increase in the number of active shoppers who have visited Alibaba Group’s retail sites over the past 12 […]
Internet giant Alibaba fined record high for antitrust violation
China’s regulator yesterday decided to fine Alibaba Group $ 2.77 billion. According to regulators, the internet giant violated the country’s antitrust laws by urging customers and suppliers not to trade with its competitors. The fine is the largest antitrust fine in Chinese history. It is three times larger than the previous record in this area […]
Alibaba Founder Jack Ma Reappears Months After Vanishing
Jack Ma resurfaces after months via an online video where he is seen congratulating rural teachers supported by his foundation. While it is still unknown where Ma is and what is his position with the Chinese regulators, news of his re-emergence has sent Alibaba’s shares up 8%.
US investment bans on Alibaba, Tencent and Baidu postponed
The Trump administration has stalled plans to blacklist Chinese tech giants Alibaba, Tencent and Baidu. Four people familiar with the matter told Reuters about it. On the other hand, Washington plans to blacklist nine more Chinese companies this week. These are the latest attempts by Donald Trump, whose presidency is due to end on January […]
The US is considering the possibility of adding Alibaba and Tencent to the list of companies, investments in which are prohibited
The Trump administration is considering adding Chinese tech giants Alibaba and Tencent to a blacklist of firms where US investment is prohibited. This was reported to Reuters by two informants familiar with the matter. Note that Alibaba and Tencent are the two most expensive Asian companies. By hitting them, President Trump has been trying in […]
China tightens the fence on its tech giants to ensure their loyalty
The Chinese Communist Party (CCP) has 89 million members. If it were a country, it would be the seventeenth most populous in the world. It would go just behind the Democratic Republic of the Congo and ahead of Germany. Within Chinese society, having the CCP card, especially outside the big cities, grants a superior status, […]