×
260
Fashion Jobs
LAVYA ASSOCIATES HR SERVICES
Regional Manager - Corporate Sales | Life Insurance - Ahmedabad
Permanent · Chennai
INDUSIND BANK
Hiring - Area Collection Manager - Bangalore
Permanent · Bengaluru
MANBA FINANCE
Area Sales Manager - Mumbai (Two Wheeler Loans)
Permanent · Navi Mumbai
CIEL HR
Manufacturing / Production Manager (From Nickel Plating Plant Only)
Permanent · Ahmedabad
CREATIVE HR SERVICE
Production Manager
Permanent · Vapi
PEOPLE FIRST CONSULTANTS
Area Sales Manager - Medical Devices, Bangalore
Permanent · Bengaluru
TALIFIC CONSULTING SERVICES
Area Sales Manager - Project Sales
Permanent · Prayagraj
THE BANYAN HR CONSULTS
Training Manager For a Garments CO For Chennai / Bangalore / Hyd
Permanent · Chennai
AJAY INDUSTRIAL CORPORATION (AICL)
Production Manager (hp Division)
Permanent · Ghaziabad
VRB CONSUMER PRODUCTS
Job Opening as Asst Manager Production - Keshwana
Permanent · Keshwana
POLYCAB INDIA LTD
Area Sales Manager
Permanent · Ludhiana
CEAT
am Production Tbr Stock (Halol- Gujarat)
Permanent · Halol
FIRST MERIDIAN BUSINESS SERVICES
Head Production Manager
Permanent · Gurugram
SHALIMAR INCENSE
Senior Area Sales Manager/Regional Sales Manager- South
Permanent · Bengaluru
FIRST MERIDIAN BUSINESS SERVICES
Production Manager (Female)
Permanent · Oragadam
POLICYBOSS
Area Sales Manager
Permanent · Chennai
RADON INDIA
Area Sales Manager - (Dealer Channel)
Permanent · Jaipur
PEOPLEFY INFOSOLUTIONS
Job Opening For Area Sales Manager Role in Mnc For Vijayawada
Permanent · Vijayawada
STANVAC CHEMICALS
Area Sales Manager
Permanent · Beawar
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Hearing Aid or Medical Device
Permanent · Kolhapur
SMART SOURCE
Buyer & Merchandiser With a Top Brand-Mumbai
Permanent · Mumbai
MURUGAPPA GROUP
Area Sales Manager - Commercial Vehicle
Permanent · Ahmedabad
By
Reuters API
Published
Aug 21, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba beats quarterly revenue estimates

By
Reuters API
Published
Aug 21, 2020

China’s Alibaba Group Holding Ltd beat quarterly revenue and profit estimates as its core commerce and cloud computing businesses continued to grow following China’s emergence from the coronavirus lockdown.


Reuters



Sales from the commerce business alone jumped 34% to 133.32 billion yuan in the quarter ending in June, slightly slower than a year earlier but still enough to prod its shares higher after the results.

The company’s stock has soared 23% this year as investors globally poured money into technology businesses seen as “stay-at-home” winners from the pandemic, and Alibaba said it had bounced back from a hit to Chinese consumer spending at the start of this year.

“Our domestic core commerce business has fully recovered to pre-COVID-19 levels across the board, while cloud computing revenue grew 59% year-over-year,” Chief Financial Officer Maggie Wu said in a statement.

Alibaba is one of the big businesses seen as a potential target if President Donald Trump makes further moves against Chinese companies, following restrictions on Chinese-owned video platform TikTok and Tencent’s WeChat.

“Today, we face uncertainties from not only the global pandemic but also increasing tensions between U.S. and China,” Chief Executive Officer Daniel Zhang said.

“We are closely monitoring the latest shift in U.S. government policies towards Chinese companies which is a very fluid situation.”

On Monday, JD.com beat analysts’ estimates for quarterly sales.

Alibaba’s net income attributable to ordinary shareholders more than doubled to 47.59 billion yuan from 21.25 billion yuan. Excluding items, the company earned 14.82 yuan per American depository share (ADS) versus expectations of 13.78 yuan, according to IBES data from Refinitiv.

Revenue was 153.75 billion yuan versus a forecast 147.77 billion yuan.

© Thomson Reuters 2023 All rights reserved.