Alibaba Saw Growth in Transactions During Single's Day -- Market Talk

Dow Jones02:07

1307 ET - Alibaba Group expects its long campaign for Single's day in China, which went all the way back to October, to pay off. The e-commerce giant ended the biggest shopping day in China on Nov. 11 with Taobao and Tmall achieving "relatively robust general merchandise value growth", CEO Eddie Wu says on a call with analysts. "I would say that the results that merchants achieved based on what we discussed with them going into the campaign in terms of their expectations, and then the feedback we got from them after the campaign is that results exceeded their expectations," Wu says. The company expects user growth and retention to subsequently bring more consumption upside in the future, Wu adds. American depositary shares fall 2.6% to $88.23. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

November 15, 2024 13:07 ET (18:07 GMT)

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The e-commerce giant ended the biggest shopping day in China on Nov. 11 with Taobao and Tmall achieving \"relatively robust general merchandise value growth\", CEO Eddie Wu says on a call with analysts. \"I would say that the results that merchants achieved based on what we discussed with them going into the campaign in terms of their expectations, and then the feedback we got from them after the campaign is that results exceeded their expectations,\" Wu says. The company expects user growth and retention to subsequently bring more consumption upside in the future, Wu adds. American depositary shares fall 2.6% to $88.23. 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The e-commerce giant ended the biggest shopping day in China on Nov. 11...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"LU0052750758.USD","symbol_name":"富兰克林中国基金A Acc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483058332","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483058332","pubTimestamp":1731694020,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1307 ET - Alibaba Group expects its long campaign for Single's day in China, which went all the way back to October, to pay off. The e-commerce giant ended the biggest shopping day in China on Nov. 11 with Taobao and Tmall achieving \"relatively robust general merchandise value growth\", CEO Eddie Wu says on a call with analysts. \"I would say that the results that merchants achieved based on what we discussed with them going into the campaign in terms of their expectations, and then the feedback we got from them after the campaign is that results exceeded their expectations,\" Wu says. The company expects user growth and retention to subsequently bring more consumption upside in the future, Wu adds. American depositary shares fall 2.6% to $88.23. 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The e-commerce giant ended the biggest shopping day in China on Nov. 11 with Taobao and Tmall achieving \"relatively robust general merchandise value growth\", CEO Eddie Wu says on a call with analysts. \"I would say that the results that merchants achieved based on what we discussed with them going into the campaign in terms of their expectations, and then the feedback we got from them after the campaign is that results exceeded their expectations,\" Wu says. The company expects user growth and retention to subsequently bring more consumption upside in the future, Wu adds. American depositary shares fall 2.6% to $88.23. 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