Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue f...
SHANGHAI - Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services.
It reported a 51% increase in group revenue for January-March from a year earlier to 93.50 billion yuan , beating estimates of 91.58 billion yuan, according to IBES data from Refinitiv.While still solid, Alibaba’s top-line growth rates have slowed sharply from a few years ago, as have those of domestic rivals such as JD.com, which last week reported its slowest quarterly revenue growth since it listed in 2014.
The group said its net income attributable to ordinary shareholders rose in the quarter to 25.83 billion yuan, from 7.56 billion yuan in the same period a year earlier.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba revenue beats estimates on cloud boost; shares riseChina's Alibaba Group Holding Ltd beat analysts' estimates for fourth-...
Read more »
Alibaba's stock surges after earnings and revenue rise, beat FactSet expectationsShares of Alibaba Group Holding Ltd. surged 4.2% in active premarket trade Wednesday, after the China-based e-commerce giant reported fiscal fourth-quarter...
Read more »
Xilinx forecasts fiscal 2020 revenue above Wall Street expectationsXilinx Inc, a chip supplier whose products are used in 5G networking gear, said ...
Read more »
Alibaba beats as its user base sees big growthAlibaba's fourth-quarter results beat on both the top and bottom lines, but full-year guidance came up short.
Read more »
Disney earnings beat, but movie revenue drops ahead of ‘Endgame’ windfallWalt Disney Co. handily beat earnings expectations even after stripping out big gains from an acquisition, but revenue in the core movie and television...
Read more »
Microsoft's cloud grew 73% last year. Leaders and employees from 10 tech companies weigh in on whether it can topple Amazon's cloud reignAt Microsoft Build, leaders and employees from 10 tech companies weigh in on whether Microsoft can beat Amazon Web Services in the cloud wars.
Read more »
Stocks making the biggest moves premarket: Alibaba, Zillow Group, Biogen, McDonald's, Beyond Meat & moreThese are the stocks posting the largest moves before the bell.
Read more »
Breakingviews - Tencent deserves its premium over Alibaba(Reuters Breakingviews) - Alibaba or Tencent? The Chinese tech titans, with a co...
Read more »
Alibaba founder Jack Ma says staff should have sex six times in six daysOne of China’s wealthiest men, Jack Ma, founder of tech giant Alibaba, is urging his employees to have more sex in pursuit of a better work-life balance. Mr Ma gave a lighthearted speech at an event at which dozens of Alibaba couples were married in a group ceremony, stressing that a balanced home life
Read more »
Alibaba, down 8% this month, could see a big move on earnings, traders sayOptions traders appear to be selling out of their bullish positions in Alibaba ahead of the e-commerce company's earnings report.
Read more »
Tencent deserves its premium over AlibabaChina’s tech titans face slower growth in their respective strongholds of video games and e-commerce. As they fight it out in finance, Alibaba's $150 bln affiliate, Ant, is winning. Tencent's chat app, though, gives it an overall edge that justifies a higher earnings multiple.
Read more »