Alibaba Group Holding Ltd , on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country's COVID-19 lockdowns.
The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter, on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country's COVID-19 lockdowns.
Revenue in Alibaba's cloud computing division rose 12% to 18.97 billion yuan in the reported quarter. At the core commerce unit, its largest, revenue rose 8% to 140.33 billion yuan.The company, however, said it would not issue a forecast for the new fiscal year, citing pandemic-related risks and uncertainties.
Overall, Alibaba's revenue rose 9% to 204.05 billion yuan in the quarter. Analysts on average had expected revenue of 199.25 billion yuan, according to Refinitiv data.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Alibaba Annual Profits Lower, Rocked by Investment Losses, Slowing China EconomyChina’s e-commerce and media giant Alibaba recorded lower profits in the 12 months to March 2022, following a year of turmoil for tech companies, a weakening Chinese economy, a COVID revival and Ru…
Consulte Mais informação »
China rejects pressure to break with Putin, stays loyal to relationship'Cooperation between China and Russia has strong endogenous power and independent value,' China spokesman Wang Wenbin said on Tuesday.
Consulte Mais informação »
U.N. rights chief visits China as police files detail abuse of UyghursMichelle Bachelet's trip comes as 'Xinjiang Police Files' on the internment of Uyghurs and other minorities in China become public.
Consulte Mais informação »
Robert Kuok’s Kerry Properties Sells Hong Kong Warehouses To China Resources For $588 MillionKerry Properties—controlled by Malaysia’s richest person Robert Kuok—has agreed to sell two of its warehouses in Hong Kong to China Resources Logistics, a unit of state-owned China Resources Group, for HK$4.62 billion.
Consulte Mais informação »
Walking into Shangri-La—a former Tibetan kingdom in southern ChinaA remote mountain monastery reveals the earthly yearnings behind our quest for utopias such as Shangri-La.
Consulte Mais informação »