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Alibaba slid over 9% in morning trading as its net profit fell down 87% year-on-year

Tiger Newspress2021-11-18

Alibaba slid over 9% in morning trading as its net profit fell down 87% year-on-year.

According to the company's disclosure, from July to September this year, the total revenue (RMB) was 200.69 billion yuan (about 31.147 billion US dollars), a year-on-year increase of 29%, but slightly lower than the market estimate of 206.17 billion yuan, and also inferior to the previous quarter.

Its net profit was 3.377 billion yuan, down 87% year-on-year.It also announced that it would adjust its revenue guidelines for fiscal year 2022 to a year-on-year increase of 20-23%, which was previously expected to be 930 billion yuan (about 29.5%).

Zhang Yong, Chairman and CEO of Alibaba Group, said: "This quarter, Alibaba continued to invest firmly in the three strategies of domestic demand, globalization and cloud computing, laying a solid foundation for the Group to achieve long-term sustainable development. Alibaba Eco's global annual active consumers reached about 1.24 billion, with a net increase of 62 million in a single quarter, and is steadily moving towards the long-term goal of serving 2 billion consumers around the world. "

Wu Wei, chief financial officer of Alibaba Group, said: "Driven by the performance of diversified businesses, the Group's revenue increased by 29% this quarter. Ali continued to invest in key strategic areas during the quarter and achieved significant growth in these young businesses."

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  • Huatahhuat
    ·2021-11-20
    🤕😉🤪🙄
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  • Mm101
    ·2021-11-20
    Buy
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    • Mm101
      Jj
      2021-11-20
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    • Mm101
      Last
      2021-11-20
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    • Mm101
      Nbg
      2021-11-20
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  • Mm101
    ·2021-11-20
    Yes
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  • FannyNg
    ·2021-11-19
    This is definitely for the long termplay now, should buy the dip to average down or wait & see first? 
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  • CCLaunty
    ·2021-11-19
    👍
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    ·2021-11-19
    Fly kite
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  • Jawslea
    ·2021-11-19
    Very bad news
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  • Gladys8jk
    ·2021-11-19
    Oops
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    ·2021-11-19
    Oh...
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    ·2021-11-19
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    ·2021-11-19
    Oops
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    ·2021-11-19
    👌🏼 👍🏻 
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  • SandDust
    ·2021-11-19
    Very bad results
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  • Winyss10
    ·2021-11-18
    latest
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    • JiaJun87
      [Surprised]
      2021-11-18
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    ·2021-11-18
    Go n fly kite. Please 🥺
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  • Valeriechan
    ·2021-11-18
    [Cry] 
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  • Okie_cheong
    ·2021-11-18
    Undervalue stock!!! 💰💰💰
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    • Calvinchin
      👌 🏼
      2021-11-19
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    ·2021-11-18
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    ·2021-11-18
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      [Heartbreak]
      2021-11-18
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  • Chitooctto
    ·2021-11-18
    Like
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