China's Internet giant Alibaba Group Holding in the fourth fiscal quarter, ended in March, reduced its net profit by 33% to 7 billion 561 million yuan in connection with a large one-time financial income in the same quarter a year earlier. Net profit without taking into account non-recurring factors increased by 37%. Adjusted earnings per share increased from 63 cents to 91 cents, analysts had predicted 85 cents per share. Revenues in terms of the US dollars amounted to 9 billion 873 million dollars. Experts had expected the figure at the level of 9.3 billion dollars. Revenues of Alibaba's core retail business increased 62%. The cloud division increased revenues by 103%. As a result of the financial year, the company's net profit increased by 40% to 24.51 yuan per share, revenue increased by 58% to 250 billion 270 million yuan.
Hang Seng and Nikkei underperform after Apple’s revenue warning18.02.2020
Alibaba extends help to firms hit by coronavirus spread, offers $2.86 billion in loans04.02.2020
Tesla surges 20%, gets boost from Panasonic’s quarterly profit increase20.12.2019
Nike quarterly revenue surges, North America sales hit lower-than-expected