Alibaba Net Profit | Pixr8 News

Chinese e-commerce giant Alibaba 2019 first-quarter revenue beat analyst estimates. Revenue for the April-June period rose 42 percent year-on-year to 114.9 billion yuan (USD 16.7 billion), a company statement said, outpacing an average analyst estimate of 111.6 billion yuan. The result defying a slowing economy and a trade war with the United States. Alibaba's Executive Vice-Chairman, Joe Tsai attributed the results to China's demographic trends and continued urbanisation, pointing to the growing urban middle class willing to shell out for brands on Alibaba's e-commerce platforms. Net profit for the quarter was 21.2 billion (USD 3.1 billion), more than double from the same period a year earlier. Revenue in the Hangzhou-based company's core e-commerce segment, which accou...

Chinese ecommerce leader Alibaba said Wednesday that net profit increased 37 percent in the latest quarter as growth in cloud computing and other business lines helped offset a slowing expansion in core online retail. The company's net profit grew to 33.0 billion yuan (USD 4.9 billion) in the October-December third quarter, compared to 24.1 billion yuan over the same period in 2017. Alibaba dominates China's emerging consumer culture and its corporate results were widely anticipated for any signs of whether a worsening Chinese economic slowdown and the US-China trade tussle was curbing the country's appetite for shopping. Revenue growth slowed to 41 per cent in the quarter, with sales in its core e-commerce business coming in at 40 per cent. While most companies would envy suc...

Tag: Alibaba Net Profit

Alibaba Revenue Jumps 42 Percent in First Quarter

Alibaba Net Profit Increases 37% to $4.9 Billion