China's Internet giant Alibaba Group Holding in the fourth fiscal quarter, ended in March, reduced its net profit by 33% to 7 billion 561 million yuan in connection with a large one-time financial income in the same quarter a year earlier. Net profit without taking into account non-recurring factors increased by 37%. Adjusted earnings per share increased from 63 cents to 91 cents, analysts had predicted 85 cents per share. Revenues in terms of the US dollars amounted to 9 billion 873 million dollars. Experts had expected the figure at the level of 9.3 billion dollars. Revenues of Alibaba's core retail business increased 62%. The cloud division increased revenues by 103%. As a result of the financial year, the company's net profit increased by 40% to 24.51 yuan per share, revenue increased by 58% to 250 billion 270 million yuan.
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
On Thursday, the semiconductor manufacturing company Broadcom Inc. (AVGO.O) posted its second-quarter revenue estimates worth $5.742 billion and suggests a delay on the Apple Inc.’s (AAPL.O) iPhone 12 launch on the first week of September ...
On Thursday, American multinational warehouse club operator Costco Wholesale Corp. (COST.O) reported a 7.5% decline in its third-quarter revenue. The retail company spent $300 Million on incremental wages and extra sanitation costs amid the ...
On Wednesday, American computer manufacturer Micron Technology Inc (MU.O) raised its revenue forecast to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion for the third quarter. The company's shares jumped to 3.7% in ...