Today news
Related News
Alibaba Profits Trimmed in First Quarter Following Regulatory Crackdown
Reading now: 891
variety.comPatrick Frater Asia Bureau ChiefChinese e-commerce giant Alibaba should be well positioned to take advantage of the early recovery of China’s economy.
But its results for the three months to June, published on Tuesday, did not show the full extent of that potential.Net income attributable to shareholders was down by 5% at $6.99 billion using U.S.
accounting metrics. Using the non-GAAP measures that the company prefers, net profits edged ahead by 10% to $6.73 billion.The apparent standstill occurred despite revenues excluding those from acquisitions growing by 22% to $29.0 billion and subscriber numbers growing by 45 million.“We are investing our excess profits and additional capital to support our merchants and invest in strategic areas to.
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
