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Alibaba Group Hodling Ltd. increased net profit by 37% over the 3rd fiscal quarter. The figure rose to 33.05 billion yuan against 24.07 billion yuan last year. Per-share earnings rose from 9.2 yuan to 12.64 yuan, the company said in a press release. Excluding one-time factors, earnings were 12.19 yuan per share versus 10.61 yuan last year. Experts surveyed by FactSet had predicted a profit of 11.45 yuan per paper. The volume of e-commerce operations grew by 40% to 102.84 billion yuan, revenues from the cloud business grew by 84% to 6.61 billion yuan. The entertainment and digital media segment increased revenues by 20% to nearly 6.5 billion yuan. Last year, 666 million people used Alibaba services. In 2018, their number increased to 699 million people. The company owns the largest e-commerce platforms in China. 80% of e-commerce in the country accounts for Alibaba products.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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 second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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