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Alibaba reported on the profit for the financial quarter and surprised analysts

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Alibaba reported on the profit for the financial quarter and surprised analysts
January 30
13:00 2019

Alibaba, a Chinese corporation, has reported on the profit in the third fiscal quarter. The profit data have exceeded the expectations, while the revenue has fallen below forecasts.

The net profit received by the company in October-December last year has amounted to 4.8 billion US dollars, which is almost 40% more than in the same period of 2017. One company’s share brings the profit of 12.6 yuan.

Experts predicted earnings of 11.5 yuan per share, but in fact it turned out that even the indicator excluding one-time factors was more – 12.2 yuan.

The company’s revenue for the quarter has amounted to 117.3 billion yuan, which is 2 billion yuan less than expected. Analysts were wrong here too.

Alibaba has increased its main operating revenue by 40% to the value of 102.8 billion yuan. The revenue from the cloud business has grown by more than 80% to 6.6 billion yuan. The revenue received from entertainment also has increased – to 6.5 billion.

Last quarter, there were 666 million users who had access to the company’s services. For the period from October to December, this figure has increased by 33 million people.

The main platform of the company is Taobao. This is an e-commerce platform that drives buyers and sellers together. Alibaba owns most of the e-commerce turnover in China.

As of Wednesday, the shares of the Internet giant have grown by 2% for the day. Its value has increased by 15% in recent months.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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