Alibaba EARNINGS: left behind the estimates on demand for China shopping services: Alibaba Group Holding Ltd (9988.HK) beat all the expectations for the 4th quarter of Alibaba revenue on Thursday, 26th May 2022. This all happened because of its few niche products. These products are in huge demand, especially in China. And because of these things only, it has covered all its losses of covid-19.
Alibaba shares listed from the US, which were a huge loss and lost almost one-third of its value, were on 5 percent of profit now.
Alibaba’s cloud computing division revenue suddenly rose from 12 percent to 19.97 B Yuan in that particular quarter. And this huge gross has been the headline of today’s news. Although, the Alibaba company denied to tell anything regarding the forecasting of this for the new year. As can be changed at any time due to the Covid-19 pandemic and other uncertainties. They are quite on this question.
Now we will talk about the Alibaba earnings for this particular quarter. Overall (China + United States and others), Alibaba’srevenue has risen by 9% to 204.05 B yuan, it will be appx. $30.35 B, in this quarter. Few of the analysts calculated it and said on average, its expected Alibaba revenue is 199.25 B yuan.
And if we talk about the annual active consumers, they have reached about 1.31 B for this year. And these consumers include china also, for the first time in their history. And we talk about the Net Income, it has reached 59% to 61.96B yuan in this fourth quarter, which ended on 31st March 2022. The loss was due to the Covid-19 pandemic only and now it seems that everything including NYSE:BABahas been changed.
Alibaba Group Holding Ltd shares
Alibaba recently announced that its shares have been hiked suddenly and surprisingly. All the shareholders are very happy now. Alibaba Group Holding Ltd is a very big name and hence many of the persons are investing in this when they came to know about the hiking news, they became very happy and this news is getting viral like a storm on the Internet.
Their niche products in chitinase getting very famous and people are purchasing them and the share price is hiking. Earlier it was a very big loss.
About the Alibaba Group
The Alibaba Group Holding Limited is also called the Alibaba group. It is a Chinese multinational company, which specialized in e-commerce, internet, retail, and technology. It was founded in June 1999. This is said to be one of the world’s largest retailers and e-commerce companies.
Recently its shares hiked suddenly and covered most of its loss which was due to Covid-19.