Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%

News

Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%

13.11.2020 News

The net profit of the largest Chinese Internet company Alibaba Group Holding for the six months of 2020-2021 fiscal year (ended September 30) fell by 19% year on year and amounted to 10.746 billion dollars, according to a press release.

Adjusted earnings per share were 3.48 yuan ($ 0.51) compared to 4.45 yuan ($ 0.66) a year earlier. Revenue for the period increased year on year by 30% to $ 45.483 billion.

Last quarter, the company’s net profit was $ 3.907 billion, which is 2.6 times lower than a year ago. Adjusted earnings per share for these three months were 1.31 yuan ($ 0.19) against 3.44 yuan ($ 0.51) a year earlier. Alibaba’s total revenue for the quarter rose 30.2% to $ 22.838 billion.

The company also notes that revenue from Alibaba’s retail business in China for the second quarter grew by 26% compared to the same period a year earlier. The company’s revenue from customer service for the quarter increased by 20% year on year due to new methods of monetization, such as referral channels and an increase in paid clicks.

“Alibaba had another strong quarter. We continued to help businesses recover and find new opportunities for growth through post-pandemic digitalisation,” the group’s CEO Daniel Zhang said in a release.

Other articles

  • Exxon Mobil announces record depreciation of its gas assets by $ 20 billion
    News

    Exxon Mobil announces record depreciation of its gas assets by $ 20 billion

    The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]

  • S&P forecasts global debt growth of up to $ 200 trillion
    News

    S&P forecasts global debt growth of up to $ 200 trillion

    World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global. It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result […]

  • Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business
    News

    Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

    Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

  • Netflix’s future growth will come from India and other major Asian markets
    News

    Netflix’s future growth will come from India and other major Asian markets

    Shares of Netflix fell after the company released a quarterly report on October 20 with only 2.2 million new subscribers. At the same time, over the last week, stock growth has resumed and since the beginning of the year, the share price of Netflix has risen by 59%. The company’s management and analysts cited the […]

  • Alibaba will acquire part of the shares during the IPO of the Ant Group
    News

    Alibaba will acquire part of the shares during the IPO of the Ant Group

    Chinese Internet company Alibaba will buy more than a fifth of the shares of its division, specifically of a fin-tech company Ant Group, as part of its future IPO on the stock exchanges of Hong Kong and Shanghai, Alibaba said in a release. “Alibaba has agreed to subscribe for 730 million shares of the initial […]

  • Alibaba invests in the largest hypermarket operator in China
    News

    Alibaba invests in the largest hypermarket operator in China

    The largest Chinese Internet company Alibaba Group Holding Ltd. will acquire from Auchan Retail International shares of the largest Chinese hypermarket operator Sun Art Retail Group for $ 3.6 billion, according to the press release from Alibaba. “Alibaba is investing $ 28 billion ($ 3.6 billion) to acquire … 70.94% of Auchan Retail’s stake in […]

  • Experts estimated the damage to the global economy due to coronavirus
    News

    Experts estimated the damage to the global economy due to coronavirus

    Experts predict the collapse of the economy if states do not continue the policy of fiscal support for business. Information was reported by the American publication of Bloomberg. The main problem today – is a continuation of the spread of the virus that outbreaks around the world. Even when the vaccine is developed, its use […]

Read also

Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Bill Gates warned against buying Bitcoin

Microsoft founder Bill Gates has warned investors against buying the cryptocurrency Bitcoin. Bloomberg reports. “If you have less money than Ilona [Mask], you probably need to be careful. Ilon has a lot of money and he’s very advanced, so I’m not worried that his bitcoins will rise and fall chaotically,” Gates said. Gates fears that […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Uber stops developing a car without a driver

On Monday, December 7, Uber and startup Aurora Technologies announced an agreement under which Aurora will take over Uber’s Advanced Technologies Group, which has been developing self-governing cars. Under the terms of the agreement, Uber will receive $ 400 million, 26% of Aurora shares, and the general director of the taxi service, Dara Khosrowshahi, will […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Goldman Sachs has launched a capital management service for investors with $ 1,000

Goldman Sachs launches Marcus Invest asset management service for investors with small capital, according to Reuters. The service will automatically invest clients’ funds in exchange-traded funds (etf) on stocks and bonds and rebalance portfolios based on models that develop the bank’s investment strategy. Historically, Goldman Sachs has offered asset management services to clients with capital […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

China Companies decide to build a solar power in Chernobyl

According to an information of Reuters, Two large Chinese companies plan to construct a solar power station with a capacity of 1 gigawatt in the Chernobyl . For project implementation, the GCL System Integration Technology company intends to get a business  with the China National Complete Engineering Corporation (CNCEC). CNCEC was founded in 1985. in […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Deutsche Bank staff questioned as part of Libor investigation

Current and former Deutsche Bank staff have been questioned by the Serious Fraud Office in recent weeks in relation to the investigation into Libor rate-rigging. Traders have been interviewed about the manipulation of the London interbank offered rate and its euro counterpart, Bloomberg has reported. The interviews come shortly after the conviction of former UBS […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Converse sells shoes on the garbage island

The Converse brand has opened a virtual store on a garbage island in the Pacific Ocean, which consists of 80,000 tons of plastic and is larger than the area of ​​France. The offers of this outlet can be found on the store’s website. It is reported that the Renew Labs space was developed by Virtue. […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

China reduced US treasury bond portfolio by $ 6.22 billion in September

China reduced its US Treasury bond portfolio by $ 6.22 billion to $ 1.062 trillion amid strained relations with Washington in September. This was reported on Friday by the South China Morning Post, citing data from the US Treasury. This was the lowest amount of these investments since February 2017. According to the publication, China […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Radisson Hotel Group strengthens its extended stay value proposition and ambitiously grows its serviced apartments portfolio across EMEA

Radisson Hotel Group has plans to more than double its serviced apartments portfolio within the next 5 years across EMEA. Today, serviced apartments represent around 10% of the Group’s EMEA portfolio with 45 properties and more than 5,400 units in operation and under development. Radisson Hotel Group operates its serviced apartments as a stand-alone or […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

McDonald’s will start selling alternative meat

McDonald’s will start producing vegan chops for burgers next year. This was reported by CNBC with reference to the company’s president Jan Borden. According to him, McDonald’s will independently produce vegan chops for its burgers. While we are talking about beef substitutes, but in the future in the restaurants may appear vegan “chicken”. “Vegetarian chops […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Nine people have become billionaires thanks to COVID vaccines

The invention and distribution of coronavirus vaccines have made nine people billionaires. Euronews reported this with reference to the data of non-governmental organizations. “Nine new billionaires have a combined net worth of $ 19.3 billion, which is enough to fully vaccinate all people in low-income countries 1.3 times. Meanwhile, those countries have received only 0.2 […]

Next
impact automotive
News

How Ukrainian developers make impact on road safety

From October 1, drivers must turn on the dipped headlights of the car outside the city. This helps to additionally mark the vehicle in conditions of low visibility within the autumn-winter period. GlobalLogic reminds about the importance of compliance with traffic rules and tells about the developments of Ukrainian engineers that affect road safety. In […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

The Ukrainian court refused Sberbank in collecting debts from Zaporizhstal

The District Court of Zaporizhia refused  Sberbank in approval of decision of Russian curt about enforcing  recovery of debts in $ 10.4 million from  the Ukrainian metallurgical combine “Zaporizhstal”, reports RIA “Novosti”. The  court’s decision stated that on January 25, Sberbank of Russia appealed to the Court of Zaporizhia with a statement to allow the […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

The value of bitcoin has exceeded $ 60 thousand again

The most popular cryptocurrency bitcoin has risen again to 60 thousand dollars. Its value increases on the news of a possible reduction in supply. Reuters writes about it. Note that bitcoin first took this bar on March 13, reaching a record high of $ 61,781.83 on the Bitstamp exchange. This came immediately after US President […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Coca-Cola sells the manufacturer of “Yarilo” kvass

The Antimonopoly Committee gave the permission to the Nova Trade LTD Baileys company for the  acquisition of more than 50% stake of the company “Kvass Beverages”, which is the part of the Coca-Cola Company Group. This is said in a statement of the regulator. The “Kvass Beverages”Company from Zaporizhzhya  produces kvass of live fermentation under  “Yarilo” […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Marriott announced about merge

Marriott is buying Starwood to make the largest hotel company in the world. Together, the companies will operate or franchise 5,500 hotels with a total of 1.1 million rooms. The company will span 100 countries. Marriott International (MAR) and Starwood Hotels & Resorts Worldwide (HOT) announced the $12.2 billion deal on Monday. Starwood brands include W Hotels, St. Regis, Westin and […]

Next
Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
News

Major oil company Total was fined for $ 3.6 million

Commodity Futures Trading Commission USA announced the application of penalties in respect of the American division of the oil company Total. The company is accused of fraud in the gas market in the USA, in an attempt to carry out manipulations with the index monthly gas prices in Houston and other markets in the United […]

Next