Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding    BABA

ALIBABA GROUP HOLDING

(BABA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Alibaba's sales surge as people shop online during lockdown

share with twitter share with LinkedIn share with facebook
share via e-mail
05/22/2020 | 11:50am EDT
FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin

Alibaba Group Holding Ltd on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns.

As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company's core commerce business rising nearly 19% to 93.87 billion yuan ($13.16 billion) in the quarter.

Revenue at its cloud computing business rose about 58%.

Alibaba CFO Maggie Wu said the results contrasted with the company's guidance from the previous quarter, when it had predicted a drop in revenue.

"I'm pleased to report we reported better than expected March quarter results," she said.

With China's economy starting up again much ahead of major economies in Europe and the United States, the e-commerce group said it expected to generate more than 650 billion yuan in revenue in fiscal 2021.

Alibaba has been expanding into new businesses and technologies to cope with increased competition in online shopping from smaller rivals such as JD.com Inc and Pinduoduo Inc, which is popular with residents in China's lower-tier cities.

Alibaba's overall revenue rose to 114.31 billion yuan ($16.02 billion) in the quarter ended March 31 from about 93.50 billion yuan a year earlier.

Analysts had expected revenue of 107.04 billion yuan, according to IBES data from Refinitiv.

The company said that gross merchandise volume exceeded $1 trillion for the first time in its fiscal year ending in March.

Excluding items, the company earned 9.20 yuan per American Depository Share. Analysts were expecting 6.10 yuan per ADS, according to Refinitiv data.

U.S.-listed shares of the company were marginally up in trading before the bell.

CFO Wu said the company was closely monitoring a bill passed this week by the U.S. Senate that would require listed companies to reveal they are not owned by a foreign government. The bill is written to apply to all foreign companies but is targeted at China.

"Alibaba's financial statements are prepared in accordance with U.S. GAAP..." said Wu, referring to U.S. accounting rules. "We have been an SEC filer since 2014 and hold ourselves to the highest standard of transparency."

(Reporting by Akanksha Rana in Bengaluru and Josh Horwitz in Shanghai; Editing by Arun Koyyur and Jane Merriman)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ALIBABA GROUP HOLDING
05:09aGEELY'S POLESTAR PLANS CHINA SHOWROO : sources
RE
02:48aTencent Rival Sees $2.6 Billion Offering -- WSJ
DJ
06/01SoftBank Vision Fund head's pay doubled last year despite massive losses
RE
06/01SoftBank Vision Fund head's pay doubled last year despite massive losses
RE
06/01China's NetEase targets global expansion with $2.6 billion Hong Kong listing
RE
06/01Tencent Rival NetEase Moves Ahead With Hong Kong Listing -- 2nd Update
DJ
06/01Walmart's Flipkart to re-apply for food retail license in India
RE
06/01Tencent Rival NetEase Moves Ahead With Hong Kong Listing -- Update
DJ
05/29Stick or twist? Investors face coronavirus-induced property dilemma
RE
05/29Two Chinese Tech Firms Get Nod for Secondary Listing in Hong Kong -- Update
DJ
More news
Financials
Sales 2020 504 B 70 954 M 70 954 M
Net income 2020 148 B 20 847 M 20 847 M
Net cash 2020 288 B 40 520 M 40 520 M
P/E ratio 2020 26,7x
Yield 2020 -
Capitalization 3 951 B 554 B 557 B
EV / Sales 2019
EV / Sales 2020 7,27x
Nbr of Employees 117 600
Free-Float 66,4%
Chart ALIBABA GROUP HOLDING
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | BABA | US01609W1027 | MarketScreener
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 53
Average target price 1 855,48 CNY
Last Close Price 1 472,37 CNY
Spread / Highest target 67,5%
Spread / Average Target 26,0%
Spread / Lowest Target -9,39%
EPS Revisions
Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO & Head-Strategic Investments
Chung Hsin Tsai Executive Vice Chairman
Yun Ma Director
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING-2.61%554 383
MEITUAN DIANPING47.20%112 755
SHOPIFY INC.90.65%90 457
JD.COM, INC.55.35%80 079
PINDUODUO INC.73.88%78 756
MERCADOLIBRE, INC.47.58%41 959