Breaking News

TerraMaster Prime Day 2026 Sale Offers Up to 25% Off XPG Launches INFINITY Fans and MAESTRO Air Coolers Noctua introduces NL-LC1 all-in-one liquid coolers SAMA S50 Rethinks Compact ATX Cases Viltrox Launches AF 28mm F4.5 Chip L-mount Lens

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

TerraMaster Prime Day 2026 Sale Offers Up to 25% Off
Enterprise & IT

TerraMaster Prime Day 2026 Sale Offers Up to 25% Off

XPG Launches INFINITY Fans and MAESTRO Air Coolers
Cooling Systems

XPG Launches INFINITY Fans and MAESTRO Air Coolers

Noctua introduces NL-LC1 all-in-one liquid coolers
Cooling Systems

Noctua introduces NL-LC1 all-in-one liquid coolers

SAMA S50 Rethinks Compact ATX Cases
Cooling Systems

SAMA S50 Rethinks Compact ATX Cases

Viltrox Launches AF 28mm F4.5 Chip L-mount Lens
Cameras

Viltrox Launches AF 28mm F4.5 Chip L-mount Lens

Popular Reviews

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

Endorfy Thock V2 Wireless Keyboard

Endorfy Thock V2 Wireless Keyboard

be quiet! Pure Loop 3 280mm

be quiet! Pure Loop 3 280mm

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Soft2bet and the unseen hardware that makes instant play possible

Soft2bet and the unseen hardware that makes instant play possible

Crucial T710 2TB NVME SSD

Crucial T710 2TB NVME SSD

be quiet! Pure power 13M 750W

be quiet! Pure power 13M 750W

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