Published 2 years ago

Alibaba revenue beats despite flat growth due to COVID lockdown

Summary by Ground News

China's Alibaba Group Holding Ltd, on Thursday beat market expectations for revenue in the quarter ending late June. Growth was flat for the first time ever due to the impact of COVID-19 lockdown. The e-commerce giant's U.S.- listed shares rose 5 per cent in trading before the bell.

0 Articles

All

Left

Center

Right

Times of India

Alibaba quarterly revenue flat for first time ever in June

Revenue came in at 205.6 billion yuan ($30.7 billion) in the April-June quarter, beating analyst expectations despite being slightly below the same period last year, following a decline in the company's China commerce segment revenue, Alibaba said. Alibaba's performance is widely seen as a gauge of Chinese consumer sentiment, given its market dominance, and its revenue growth has slowed markedly over the past year.

2 years ago·India

Read Full Article

South China Morning Post

Alibaba net income halves, revenue flat amid economic headwinds

Alibaba Group Holding reported better-than-expected earnings for the June quarter, even as weakened consumption and economic headwinds in China crimped the profitability of the world’s largest e-commerce retailer.

2 years ago·Hong Kong

Read Full Article

CNBC

Alibaba shares rise nearly 2% after earnings beat — but reports first flat revenue growth in history

In the quarter, Alibaba faced a number of headwinds including a resurgence of Covid and lockdowns that led to a sluggish Chinese economy.

2 years ago·United States

Read Full Article

Channel News Asia

Alibaba revenue beats despite flat growth due to COVID lockdown

:China's Alibaba Group Holding Ltd, on Thursday beat market expectations for revenue in the quarter ending late June, even though growth was flat for the first time ever due to the impact of COVID-19 lockdown.The e-commerce giant's U.S.- listed shares rose 5 per cent in trading before the bell. China l

2 years ago·Singapore

Read Full Article

IBTimes

Alibaba Quarterly Revenue Flat For First Time Ever In June

Alibaba quarterly revenue flat for first time ever in June

2 years ago·United States

Read Full Article

Jornal Expresso

Alibaba sees quarterly revenue drop for the first time in its history

Grupo chinês registou, pela primeira primeira vez na sua história, uma quebra na receita trimestral. Desaceleração económica e confinamentos não ajudaram a empresa

2 years ago·Portugal

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year

Ground News Article Assistant

Not enough coverage to generate an Article Assistant.