Tide is turning. Go Baba!

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JLiP
2022-08-04

Tide is turning. Go Baba!

Alibaba Revenue Beats Despite Flat Growth Due to COVID Lockdown

Aug 4 (Reuters) - China's Alibaba Group Holding Ltd, on Thursday beat market expectations for revenu

Alibaba Revenue Beats Despite Flat Growth Due to COVID Lockdown

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·2022-08-04
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Go Baba!","highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9902067823","repostId":1168440384,"repostType":4,"repost":{"id":"1168440384","weMediaInfo":{"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,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1659609412,"share":"https://www.laohu8.com/m/news/1168440384?lang=&edition=full","pubTime":"2022-08-04 18:36","market":"hk","language":"en","title":"Alibaba Revenue Beats Despite Flat Growth Due to COVID Lockdown","url":"https://stock-news.laohu8.com/highlight/detail?id=1168440384","media":"Reuters","summary":"Aug 4 (Reuters) - China's Alibaba Group Holding Ltd, on Thursday beat market expectations for revenu","content":"<html><head></head><body><p>Aug 4 (Reuters) - China&#39;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.</p><p>The e-commerce giant&#39;s U.S.- listed shares rose 5% in trading before the bell.</p><p><img src=\"https://static.tigerbbs.com/cde59d3849e98ca139ed7640b2d37a8f\" tg-width=\"830\" tg-height=\"619\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>China locked down dozens of cities between April and May as the infectious Omicron variant raged, with cities such as its largest and most cosmopolitan hub of Shanghai facing the harshest curbs that paralyzed intra and inter-city delivery.</p><p>In Shanghai, for instance, households for nearly the whole of April were unable to place orders from Taobao or Ele.me, Alibaba&#39;s e-commerce and food delivery sites, and instead relied on the government and roundabout channels for food and supplies. 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Despite near-term challenges, Taobao and Tmall continue to achieve high consumer retention, especially among consumers with higher spending power,&#34; the company said.</p><p>Revenue stood at 205.56 billion yuan ($30.43 billion)in the quarter, compared to analysts&#39; average expectation of 203.19 billion yuan, according to Refinitiv data.</p><p>Net income attributable to ordinary shareholders for the quarter ended June 30 was 22.74 billion yuan, compared to 45.14 billion yuan, a year earlier.</p><p>($1 = 6.7557 Chinese yuan renminbi)</p></body></html>","collect":0,"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 Revenue Beats Despite Flat Growth Due to COVID Lockdown</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; 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Despite near-term challenges, Taobao and Tmall continue to achieve high consumer retention, especially among consumers with higher spending power,&#34; the company said.</p><p>Revenue stood at 205.56 billion yuan ($30.43 billion)in the quarter, compared to analysts&#39; average expectation of 203.19 billion yuan, according to Refinitiv data.</p><p>Net income attributable to ordinary shareholders for the quarter ended June 30 was 22.74 billion yuan, compared to 45.14 billion yuan, a year earlier.</p><p>($1 = 6.7557 Chinese yuan renminbi)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-SW"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168440384","content_text":"Aug 4 (Reuters) - 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% in trading before the bell.China locked down dozens of cities between April and May as the infectious Omicron variant raged, with cities such as its largest and most cosmopolitan hub of Shanghai facing the harshest curbs that paralyzed intra and inter-city delivery.In Shanghai, for instance, households for nearly the whole of April were unable to place orders from Taobao or Ele.me, Alibaba's e-commerce and food delivery sites, and instead relied on the government and roundabout channels for food and supplies. 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