US EditionAlibaba shares drop 5% in premarket trading after big profit miss
- Alibaba announced on the Hong Kong Stock Exchange that its revenue for the fiscal year ending March 31 reached 996.3 billion yuan, reflecting a 6 percent growth compared to the previous year.
- This growth follows persistent economic uncertainties and intense competition within China's tech sector, with Alibaba facing sluggish consumer spending and narrowly missing quarterly revenue forecasts.
- Alibaba's profit attributable to common shareholders increased by 62 percent year-over-year, reaching 129.5 billion yuan, while quarterly profits surged 279 percent compared to the same period last year, partly due to a low previous baseline.
- CEO Eddie Wu stated the results show the ongoing effectiveness of Alibaba’s 'user first, AI-driven' strategy, highlighting accelerating core business growth and the release of the advanced AI chatbot DeepSeek in January.
- The financial results suggest a possible rebound for China’s tech sector amid revamped investor interest, ongoing AI development races involving Alibaba, Tencent, and Baidu, and challenges from economic and trade pressures.
47 Articles
47 Articles
Alibaba shares fall after Q4 earnings miss expectations despite AI and e-commerce growth · TechNode
Alibaba shares dropped 7.6% on Thursday after the company missed analyst expectations for both revenue and net income in its fiscal fourth quarter, ending in March. The Chinese e-commerce giant reported revenue of RMB 236.5 billion ($32.6 billion), slightly below the RMB 237.2 billion forecast. Net income came in at RMB 12.4 billion ($1.72 billion) — about half of the RMB 24.7 billion ($3.43 billion) analysts expected, though still a 279% year-o…
Alibaba misses revenue estimates as it fights for China e-commerce market dominance
Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the company works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.
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