IT&Software

Alibaba posts strong results as shopping, cloud units grow

Alibaba posts strong results as shopping, cloud units grow

Alibaba, the Chinese e-commerce company, reported better-than-expected third-quarter results, as revenue soared at its shopping sites, cloud computing unit and its video streaming services. Wall Street was looking for adjusted earnings of 69 cents a share on revenue of $5 billion. The company reported revenues of $5.14 billion on diluted non-GAAP earnings of $0.79.

The results also beat analyst estimates and defied uncertainties about the health of China's slowing economy.

Alibaba Group Holding Limited (BABA) reported a profit for the second quarter ended September 30, 2016 that declined 66 percent from previous year.

Singles Day, held every year on 11 November, is also referred to as Double Eleven because of its date.

Net profit fell 69% to 7 billion yuan, but analysts did not seem too anxious as the decline was due mainly to last year's one-time gain from a revaluation of stocks in Alibaba Health Information Technology. Moreover, Alibaba's fledgling cloud computing business more than doubled sales and nearly broke even, a significant feat for a capital-intensive business.

Screen Shot 2016 11 02

Shares rose more than three per cent before the stock markets opened in NY on Wednesday.

Revenue from core commerce increased 41% year-over-year to RMB 28.49 billion or $4.273 billion. Alibaba Pictures last month took a minority shareholding in Spielberg's Amblin Partners, a film creation company that includes DreamWorks studios. Our highly profitable and cash flow generative core commerce business enables us to invest in our future growth areas of cloud computing, digital media and entertainment and innovation initiatives. Cloud revenue growth is expected to continue to grow.

On Thursday, Alibaba said the investigation would not interfere with its performance on Singles' Day. Sales from the digital media and entertainment division quadrupled to 3.6 billion yuan.

Alibaba Group Executive Vice Chairman Joe Tsai, in a conference call with analysts, said there's still "tremendous opportunity" to boost monetization of the company's user base.

Celtic earns draw with Moenchengladbach in CL
A win could see Monchengladbach leapfrog Manchester City in the group standings if Pep Guardiola's side fail to beat Barcelona . Celtic need to show a more determined performance than they did two weeks ago if they are to take anything from this game.



  • Community should consider safety tips ahead of trick-or-treating

    Police also said parents should inspect all candy when their children return home, and check their registered sex offenders here. If you are participating police say it's important to turn on your porch lights and If you aren't just keep them off.
    2 billion children breathe toxic air worldwide, UNICEF says

    2 billion children breathe toxic air worldwide, UNICEF says

    The study's author, Nicholas Rees, explained to the Washington Post why children are more susceptible to air pollution than adults.

    Hillary Clinton's lead over Donald Trump narrows to 4 points

    New fundraising records show her campaign and joint accounts with Democrats had $153 million in the bank as of last week. Donald Trump has rallies in Maine, New Hampshire and Iowa.
  • Akron encourages No-shave November

    Akron encourages No-shave November

    No-Shave November is also a nonprofit organization that raises funds for cancer research and education. The Ferndale and Hazel Park police departments are getting scruffy for a good cause.
    Big 2nd half boosts Penn State past Purdue, 62-24

    Big 2nd half boosts Penn State past Purdue, 62-24

    The Nittany Lions pulled off one of the season's biggest upsets of the season by knocking off then-No. "There's some similarities. Even those people that couldn't make it there have continued to bask in the glow of the historic victory.

    Lessons from past seasons helping Colts, Chiefs in 2016

    Over the final 28 minutes, Luck completed 17-of-23 passes for 314 yards with three touchdowns and one interception. There are talented players in Indy, including Andrew Luck who is among the best young quarterbacks in the league.
  • The Thunder are what Klay Thompson needs to get right

    The Thunder are what Klay Thompson needs to get right

    A photo is also doing the rounds of some tombstone cookies from the party with Steph Curry and Klay Thompson's names on them. Kevin Durant even chimed in, although he wasn't a member of the Warriors last season. "I'm a basketball player, bro".
    Chicago Bulls stay unbeaten with 30-point rout of Brooklyn Nets

    Chicago Bulls stay unbeaten with 30-point rout of Brooklyn Nets

    Four other Atlanta players scored in double figures for the win in a bruising contest in which the teams combined for 54 fouls. The extra pass is being made from a good look to a great look, and they're cutting away from the ball finding open lanes.
    Bono becomes first man to make Glamour's Women of the Year list

    Bono becomes first man to make Glamour's Women of the Year list

    Bono also has helped countless women stricken with AIDS through ONE , the global advocacy organization he co-founded in 2004. They certainly got people talking.
  • Instagram is Introducing Shopping Integration for Brands

    Instagram is Introducing Shopping Integration for Brands

    It certainly has the user numbers on its side; Instagram passed 500 million users in June, doubling the number in two years. Instagram said internal research showed that only 21% of consumers buy a product the first day they see it online.
    OPEC meets non-OPEC nations for oil talks, gets Azeri support

    OPEC meets non-OPEC nations for oil talks, gets Azeri support

    Non-OPEC nations sending representatives to Saturday's talks are Russia, Kazakhstan, Mexico, Oman, Azerbaijan, Brazil and Bolivia.
    Scott D. Pierce: It's time to give up on 'The Walking Dead'

    Scott D. Pierce: It's time to give up on 'The Walking Dead'

    As far as I'm concerned, I'm dedicated to watching a show because I want to see where the story goes next. Negan (Jeffrey Dean Morgan) may just be one the most hated television characters ever at this point.