Alibaba Beats Quarterly Revenue Estimates, Shares up 5% Premarket

Reuters2023-08-10

(Reuters) - China's Alibaba Group Holding, reported first-quarter revenue on Thursday that beat analysts' estimates as consumer sentiment improved from the same time a year earlier when there were strict pandemic-related lockdowns.

Alibaba posted revenue of 234.16 billion yuan ($32.29 billion) in the quarter, compared with analysts' estimates of 224.92 billion yuan, according to Refinitiv data.

The company's U.S.-listed shares rose nearly 5% in pre-market trading.

The latest revenue figure represents an improvement from flat to 3% growth in the past four quarters.

Revenue in the first quarter to end-June was helped by a recovery in consumer purchases on Alibaba's Taobao and Tmall marketplaces, boosted in part by the 618 shopping festival, China's second-largest online shopping event, in June.

Customer management revenue, which tracks how much merchants spend on Alibaba, rose 10% to 79.7 billion yuan, thanks to an increase in merchants' willingness to invest in advertising and higher sales during the festival.

This was the last earnings announcement under Alibaba CEO and Chairman Daniel Zhang, who will step down from the roles in September to focus on leading its cloud division.

The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over as chairman.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Sunshinekim
2023-08-10
Sunshinekim
Hope it goes up up!

Leave a comment

1

31

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1105277512?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-08-10 18:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1105277512","market":"hk","top_or_hot":-1,"title":"Alibaba Beats Quarterly Revenue Estimates, Shares up 5% Premarket","media":"Reuters","content":"<html><head></head><body><p style=\"text-align: start;\">(Reuters) - China&#39;s <a href=\"https://laohu8.com/S/BABA\">Alibaba Group Holding</a>, reported first-quarter revenue on Thursday that beat analysts&#39; estimates as consumer sentiment improved from the same time a year earlier when there were strict pandemic-related lockdowns.</p><p style=\"text-align: start;\">Alibaba posted revenue of 234.16 billion yuan ($32.29 billion) in the quarter, compared with analysts&#39; estimates of 224.92 billion yuan, according to Refinitiv data.</p><p style=\"text-align: start;\">The company&#39;s U.S.-listed shares rose nearly 5% in pre-market trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6c73945a13cbfc40aa39ca3dad85890e\" title=\"\" tg-width=\"827\" tg-height=\"629\"/></p><p style=\"text-align: start;\">The latest revenue figure represents an improvement from flat to 3% growth in the past four quarters.</p><p>Revenue in the first quarter to end-June was helped by a recovery in consumer purchases on Alibaba&#39;s Taobao and Tmall marketplaces, boosted in part by the 618 shopping festival, China&#39;s second-largest online shopping event, in June.</p><p style=\"text-align: start;\">Customer management revenue, which tracks how much merchants spend on Alibaba, rose 10% to 79.7 billion yuan, thanks to an increase in merchants&#39; willingness to invest in advertising and higher sales during the festival.</p><p>This was the last earnings announcement under Alibaba CEO and Chairman Daniel Zhang, who will step down from the roles in September to focus on leading its cloud division.</p><p>The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba&#39;s Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over as chairman.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Beats Quarterly Revenue Estimates, Shares up 5% Premarket</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Beats Quarterly Revenue Estimates, Shares up 5% Premarket\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-10 18:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4000724-alibaba-non-gaap-epads-of-240-beats-by-039-revenue-of-3229b-beats-by-108b><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - China's Alibaba Group Holding, reported first-quarter revenue on Thursday that beat analysts' estimates as consumer sentiment improved from the same time a year earlier when there were ...</p>\n\n<a href=\"https://seekingalpha.com/news/4000724-alibaba-non-gaap-epads-of-240-beats-by-039-revenue-of-3229b-beats-by-108b\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"89988","symbol_name":"阿里巴巴-WR","start_time":0,"source_url":"https://seekingalpha.com/news/4000724-alibaba-non-gaap-epads-of-240-beats-by-039-revenue-of-3229b-beats-by-108b","article_id":"1105277512","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1105277512","pubTimestamp":1691664738,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"China's Alibaba Group Holding , reported first-quarter revenue on Thursday that beat analysts' estimates as consumer sentiment bounced back from the same time a year earlier when there were strict pandemic-related lockdowns.The company's U.S.-listed shares rose 3% in trading before the bell.Consumer purchases on Alibaba's Taobao and Tmall marketplaces bounced back, helped in part by the 618 shopping festival, a key shopping event in China, in June.Alibaba posted revenue of 234.16 billion yuan  i","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"89988":"阿里巴巴-WR","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"translate_title":"阿里巴巴-SW超过季度收入预期，股价盘前上涨5%","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89988":1.1,"09988":1.1,"BABA":1.1},"content_text":"(Reuters) - China's Alibaba Group Holding, reported first-quarter revenue on Thursday that beat analysts' estimates as consumer sentiment improved from the same time a year earlier when there were strict pandemic-related lockdowns.Alibaba posted revenue of 234.16 billion yuan ($32.29 billion) in the quarter, compared with analysts' estimates of 224.92 billion yuan, according to Refinitiv data.The company's U.S.-listed shares rose nearly 5% in pre-market trading.The latest revenue figure represents an improvement from flat to 3% growth in the past four quarters.Revenue in the first quarter to end-June was helped by a recovery in consumer purchases on Alibaba's Taobao and Tmall marketplaces, boosted in part by the 618 shopping festival, China's second-largest online shopping event, in June.Customer management revenue, which tracks how much merchants spend on Alibaba, rose 10% to 79.7 billion yuan, thanks to an increase in merchants' willingness to invest in advertising and higher sales during the festival.This was the last earnings announcement under Alibaba CEO and Chairman Daniel Zhang, who will step down from the roles in September to focus on leading its cloud division.The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over as chairman.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":207418386583728,"gmtCreate":1691668070860,"gmtModify":1691668076114,"author":{"id":"4108879863251380","authorId":"4108879863251380","name":"Sunshinekim","avatar":"https://community-static.tradeup.com/news/4aa06f704f2b302b4af731a1567add49","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":5,"crmLevelSwitch":1,"idStr":"4108879863251380","authorIdStr":"4108879863251380"},"htmlText":"Hope it goes up up!&nbsp;","listText":"Hope it goes up up!&nbsp;","text":"Hope it goes up up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/207418386583728","repostId":1105277512,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":31,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1105277512"}