The largest Internet company in China, Alibaba, reported the results of the fiscal year ended March 31. The company's statements showed that its net profit reached $13.053 billion. Over the year, the figure rose by 37%. Earnings per share rose to 4 dollars 97 cents against 3 dollars 91 cents in the previous fiscal year. Revenue in the amount of 56.152 billion dollars showed an annual growth of 1.5 times. According to the report for the fourth fiscal quarter, the quarterly net profit rose 3.4 times compared with the same quarter a year earlier to $3.849 billion. Revenues reached $13.932 billion, registering a 1.5-fold increase. At the end of the fiscal year, the Alibaba customer base increased to 654 million active consumers per year.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
The dollar fell again on Tuesday as the U.S. economy drops into stagnation, while investors await the latest outlook from the Federal Reserve and the passage of the U.S. coronavirus fiscal stimulus. The dollar’s decline lifted gold prices ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...