Alibaba: Fiscal Q4 Earnings Snapshot
by The Associated Press
Last Updated May 13, 2021 at 7:58 am EDT
HONG KONG (AP) Alibaba Group Holding Ltd. (BABA) on Thursday reported a fiscal fourth-quarter loss of $836 million, after reporting a profit in the same period a year earlier.
The Hong Kong-based company said it had a loss of 30 cents per share. Earnings, adjusted for one-time gains and costs, were $1.58 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The online retailer posted revenue of $28.6 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $27.95 billion.
Alibaba issues upbeat annual forecast on strong e-commerce trend
05/13/2021 12:00
(Reuters) -China s top e-commerce platform Alibaba Group Holding Ltd on Thursday forecast 2022 revenue above market expectations, betting that the broader pandemic-driven shift to online shopping will remain resilient.
But the strong outlook was overshadowed by a regulatory crackdown that resulted in the suspension of a $37 billion IPO of its affiliate Ant Group and a $2.8 billion fine for anti-competitive business practices.
The fine by China s markets regulator in April was the largest-ever of its kind.
Alibaba forecast annual revenue to be 930 billion yuan ($144.12 billion) for the fiscal year ended March 2022, above analysts average estimate of 928.25 billion yuan.
Alibaba reports first operating loss as a public company
By Reuters
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INTERNATIONAL - China s top e-commerce platform Alibaba Group Holding Ltd on Thursday reported its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine.
Its US-listed shares fell more than 3 percent in volatile premarket trading, even as the company forecast 2022 revenue above market expectations, betting that the broader pandemic-driven shift to online shopping will remain resilient.
But the strong outlook was overshadowed by a regulatory crackdown that resulted in the suspension of a $37 billion (R522.78 billion) IPO of its affiliate Ant Group and a $2.8 billion fine for anti-competitive business practices.