Breaking News

ADATA Launches World's First Two-in-one External SSD Integrated with Power Bank Module Razer Unveils Raiju V3 Pro Samsung announces Galaxy XR headset Leica M EV1 – the first M-Camera with an integrated electronic viewfinder Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Alibaba Reports High Earnings but Coronavirus Questions Remain

Alibaba Reports High Earnings but Coronavirus Questions Remain

Enterprise & IT Feb 13,2020 0

Alibaba Group Holding Ltd. posted better-than-expected results for its fiscal third quarter but left some unanswered questions about what impact the coronavirus outbreak could have on numbers for the current quarter and beyond.

The company posted net income of $52.3 billion Renminbi ($7.5 billion), or RMB19.55 a share, up from RMB33.1 billion, or RMB12.64, in the year-earlier period.

Adjusted earnings per share rose to RMB18.19 from RMB12.19 and came in above the FactSet consensus, which modeled RMB15.91.

Alibaba’s revenue for the quarter increased to RMB161.5 billion, up from RMB117.3 billion a year earlier.

The company’s report comes after numerous companies warned about anticipated negative impacts from COVID-19.

Alibaba also detailed some of the ways the company was working to help facilitate business and commerce in China as the outbreak continued to disrupt some of the country’s business activity. The company said it would be reducing or lowering some fees, enabling enterprises to use its work-from-home platform for free, and helping to subsidize couriers so that they would receive extra money for their work.

“In response to the coronavirus, we mobilized Alibaba ecosystem’s powerful forces of commerce and technology to fully support the fight against the outbreak, ensure supply of daily necessities for our communities and introduced practical relief measures for our merchants,” the company said in its earnings release.

Tags: Alibabafinance
Previous Post
CORSAIR Releases SCIMITAR RGB ELITE MOBA/MMO Gaming Mouse and MM500 3XL Mouse Pad
Next Post
Xiaomi Delays Global Launch of Mi 10 Flagship Smartphones

Related Posts

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Ubisoft Sues Apple, Google Over Distribution of Alibaba’s Area F2 Game

  • Sony's Q4 Profit Dropped 57% on Low Image Sensor Sales

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • Roku Says Ad Sales Growth is Slowing, Platform Sees Growth

  • Amazon Could Report Loss in Q2 As a Result of COVID-19-related Costs

  • Apple Reports High Sales Despite Coronavirus, Future Uncertainties Remain

Latest News

ADATA Launches World's First Two-in-one External SSD Integrated with Power Bank Module
Consumer Electronics

ADATA Launches World's First Two-in-one External SSD Integrated with Power Bank Module

Razer Unveils Raiju V3 Pro
Gaming

Razer Unveils Raiju V3 Pro

Samsung announces Galaxy XR headset
Consumer Electronics

Samsung announces Galaxy XR headset

Leica M EV1 – the first M-Camera with an integrated electronic viewfinder
Cameras

Leica M EV1 – the first M-Camera with an integrated electronic viewfinder

Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center
Enterprise & IT

Micron Delivers Industry’s Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Pure Base 501

be quiet! Pure Base 501

Soundpeats Pop Clip

Soundpeats Pop Clip

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed