Chinese shoppers conjure up strong sales at Alibaba
Feb 01, 2019, 01:55
The Chinese e-commerce giant said its cloud computing business saw revenue jump 84 percent in the fourth quarter to $962 million.
Chinese e-commerce group Alibabareported a slowdown in revenue growth and lower margins in the December quarter, suggesting it is also feeling the effects of the slowdown in the Chinese economy. Bloomberg analysts expected revenue of Dollars 17.77 Billion and earnings of USD 1.68 per share.
According to Alibaba's quarterly sales results, the Chinese business has outperformed its global technology peers thanks to its significant growth in active users.
That data also showed that full-year retail sales growth slowed slightly to 9.0 percent.
For the third quarter, Alibaba reported revenue of Dollars 17.05 Billion, increasing 41% year-over-year, while earnings was USD 1.77 per share.
Tech investors have fretted over the impact of a slowing Chinese economy and a crippling Sino-U.S. trade war, which have been blamed for weak results at a slew companies including Apple Inc and chipmakers. Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of almost 700 million consumers across retail, digital entertainment and local consumer services.
Besides expanding its cloud services, Alibaba is tapping overseas markets and pouring money into what it calls "new retail", which optimises in-store sales and service using data culled online. Despite its record-breaking sales, Alibaba Singles Day's gross merchandise volume annual growth rate dropped from 39% to 27%, the smallest rate increase in the event's 10-year history, signaling a weaker macro environment in China.
China's economy posted a 6.6% expansion in 2018, the slowest in 28 years, as factory activity and domestic demand tapered.
On Tuesday, China's Ministry of Industry and Information Technology said revenue growth rates for domestic technology companies did not rise in 2018, and that consumer spending had slowed amid increased economic pressure.
Rose, the world number one, carded his 68 on the La Quinta course, while Laired fired his 72 on the Nicklaus Tournament Course. On 17, I hit a nice tee shot in a good spot to kind of hook a sand wedge into that back right pin for me.
The 5-foot-10, 195-pound Murray's Sooners lost in a college football playoff semifinal December 29 to eventual runner-up Alabama. It was believed for a while that Murray would choose baseball instead, but things changed over the past couple months.
The Duchess of Sussex paired a $35 H&M cream maternity dress with a cashmere coat by Armani for her visit to Mayhew. Meghan Markle handled being called a "fat lady" to her face with humor and grace on Wednesday.
Season 8 will be the final season of Game of Thrones and will include eight episodes to conclude the series. So you can imagine he's poured over every single second of the first glimpse at Game of Thrones since 2017.
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The Holness administration has not said whether it will order Venezuela to recall its ambassador to Kingston. Several other countries have also declared they will recognise Mr Guaido as Venezuela's interim president.
The move means Chicago has yet another opening on its defensive coaching staff, which is now led by new coordinator Chuck Pagano . Arik Armstead, who is set to enter his fifth season, had a solid season in the run game but did not offer much as a pass-rusher.
Cordoba said her children were among the more than 3 million Venezuelans who have left the country in the past couple of years. Moreover, Venezuela having rich oil, gas and gold reserves is a great reason for the U.S.to promote a coup in the country.
The charges stemmed from a civil lawsuit filed by T-Mobile in 2014 over a robot "Tappy", which was used in testing smartphones. The criminal charges in Brooklyn and Seattle come as trade talks between China and the USA are scheduled for this week.
Southeastern Idaho, including Pocatello, American Falls, Blackfoot, Burley, Rupert and Heyburn, will see less than 1 inch of snow. On Thursday, Harper will bring snow into the Rockies, Sierras and Cascades, then spread into the Northern Plains by nighttime.
Roger Stone is expected to plead not guilty in court appearance
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France Fines Google $57M for Data Privacy Violation
Second, Google did not have a legal basis to process data for ad personalization because user consent was not validly obtained. However, the GDPR provides that the consent is " specific " only if it is given distinctly for each objective .
Some Netflix Subscribers Say They'll Leave Over New Pricing
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DFAT denies Australian man killed in Nairobi terror attack
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PG&E: What Bankruptcy Means for the Utility
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New Florida governor suspends sheriff after school massacre
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No more tweeting for Saudi asylum seeker after 'threats'
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