Alibaba revenue beats expectations despite contraction
2 years, 4 months ago

Alibaba revenue beats expectations despite contraction

Associated Press  

HONG KONG — Chinese e-commerce firm Alibaba Group Holding on Thursday beat market expectations for revenue in its quarter ended June, even as revenue was nearly flat and its net income plunged 50%. Alibaba reported revenues of 205.6 billion for its quarter ended June, down 0.1% from the same period last year but still better than the average analyst estimate of $30.09 billion, according to FactSet. Online shopping tends to flourish during such times, but the company said in a statement that revenue fell “mainly due to impacts from COVID-19 resurgence and restrictions that resulted in supply chain and logistics disruptions in April and most of May.” Customers in the bustling, cosmopolitan city of Shanghai, for example, were unable to shop online or even order food delivery during its two-month lockdown. Meanwhile, Alibaba is seeking a primary listing in Hong Kong by the end of the year that would allow mainland Chinese investors direct access to its stock as it seeks a more diversified investor base.

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History of this topic

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges
7 months, 1 week ago

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges

Associated Press  

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Alibaba initiates $25 billion share buyback after revenue upset market but fails to impress investors
10 months, 2 weeks ago

Alibaba initiates $25 billion share buyback after revenue upset market but fails to impress investors

Hindustan Times  

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Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit
1 year, 1 month ago

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit

Associated Press  

HONG KONG — Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday that plans to spin off its cloud business were scrapped, citing uncertainties due to U.S. chip restrictions. Alibaba Chairman Joe Tsai said Thursday during an earnings call that a spinoff of its cloud unit “may not achieve …

For Alibaba, Six Is Bigger Than One—And a Smaller Target
1 year, 8 months ago

For Alibaba, Six Is Bigger Than One—And a Smaller Target

Live Mint  

Six is bigger than one. The core Chinese e-commerce business will stay wholly owned by Alibaba but each of the other units could seek their own funding, and maybe eventually conduct initial public offerings. Analysts from Goldman Sachs and Morgan Stanley have both said the market is currently valuing Alibaba’s businesses outside its core Chinese e-commerce segment at zero. Alibaba’s …

Alibaba posts loss, slower revenue amid lower consumption
2 years, 1 month ago

Alibaba posts loss, slower revenue amid lower consumption

Associated Press  

HONG KONG — Chinese e-commerce company Alibaba Group on Thursday posted net losses and missed market expectations for revenue in its quarter ended September amid a slowing economy and depressed consumer sentiment. Revenue grew 3% compared to the same time last year to 207.2 billion yuan, as the company saw decreased consumer spending as China continued its strict COVID-19 policies …

Alibaba to seek primary listing in Hong Kong, adding to its New York Stock Exchange listing
2 years, 4 months ago

Alibaba to seek primary listing in Hong Kong, adding to its New York Stock Exchange listing

The Hindu  

Alibaba, China’s biggest e-commerce company, said Tuesday that it would apply for a primary listing in Hong Kong. The listing is expected to be completed by the end of 2022, which would make Alibaba a dual-primary listed company on the New York Stock Exchange and the Hong Kong Stock Exchange. CEO Daniel Zhang said Alibaba was pursuing another primary listing …

Alibaba raises buyback to $25B to boost slumping stock
2 years, 9 months ago

Alibaba raises buyback to $25B to boost slumping stock

Associated Press  

BEIJING — Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. Alibaba’s U.S.-traded shares have fallen 56%, wiping out hundreds of billions of …

Alibaba slashes sales outlook as competition bites, demand slows
3 years, 1 month ago

Alibaba slashes sales outlook as competition bites, demand slows

The Hindu  

Chinese e-commerce giant Alibaba Group Holding Ltd slashed its forecast for annual revenue growth on increased competition and a regulatory crackdown, sending its stock tumbling 11%. "These economic headwinds, coupled by intensifying market competition also affected our core commerce business in China,"Alibaba CEO Daniel Zhang said on an earnings call, adding that demand for apparel and general merchandise had been …

Alibaba’s sales surge but cloud growth slows
3 years, 7 months ago

Alibaba’s sales surge but cloud growth slows

CNN  

New York CNN Business — Alibaba has reported earnings for the first time since China imposed a record fine on the tech giant — and the numbers were not as awful as some feared. The fine was reached after antitrust regulators concluded that the online shopping giant had been behaving like a monopoly, and was equivalent to 4% of Alibaba’s …

China denies plan for $1 bn Alibaba fine
3 years, 9 months ago

China denies plan for $1 bn Alibaba fine

The Hindu  

China denied on Friday it was planning to hit e-commerce giant Alibaba with a record fine of almost $1 billion for allegedly flouting monopoly rules, as authorities turned up the pressure on the country's vast technology sector. The market's regulator denied it was planning to fine the company almost $1 billion for anti-competitive behaviour, as reported by the Wall Street …

Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger
4 years, 1 month ago

Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger

CNN  

New York CNN Business — Shares of Alibaba, the Chinese e-commerce giant, fell Thursday on slowing sales growth and concerns about a delay in the initial public offering of financial tech firm Ant Group, one of its top investment holdings. Still, Thursday’s drop follows significant losses on Tuesday, when Alibaba’s stock plunged 8% after Chinese regulators suspended the planned IPO …

Alibaba beats estimates as pandemic fuels online, cloud computing demand
4 years, 4 months ago

Alibaba beats estimates as pandemic fuels online, cloud computing demand

Live Mint  

China's Alibaba Group Holding Ltd beat quarterly revenue and profit estimates on Thursday, as its core commerce and cloud computing businesses continued to grow following China's emergence from the coronavirus lockdown. The company's stock has soared 23% this year as investors globally poured money into technology businesses seen as "stay-at-home" winners from the pandemic, and Alibaba said it had bounced …

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