Alibaba Beats As Hong Kong Internet Rebounds & Defense Stocks Fall Internewscast


Key Topics in this News Article:

News Snapshot:

Share this Alibaba Q2 Earnings Overview Alibaba beat on the big three numbers investors and analysts care about: Revenue, Adjusted Net Income, and Adjusted EPS. YES, year over year, these numbers are down on percentage, BUT we knew this! Zero covid/lives first policy has had a material effect on consumption in China as Alibaba’s China e-commerce revenue was -2% YoY to RMB 136.977B ($20.45B). Despite this, Alibaba’s cloud business did well at +10% YoY though at this point is only 9% of total revenue. Cash flow and share repurchase plans are other highlights in the release. On the earnings...