Given signs of saturation in China's urban market, Alibaba has been trying to grow outside of its core e-commerce business to win new customers.
On Jan. 31, Alibaba Group announced its financial results for the quarter ended on December 31, 2018.
Last year, the economic growth of China slowed to its weakest in almost 30 years, with the growth expected to decline even further in 2019.
The results follow a warning.
Alibaba on Wednesday reported that its December quarter revenue rose 41% to RMB 117.3 billion ($17.06 billion), buoyed by its cloud computing business, where revenue rose 84% year-over-year to RMB 6.6 billion. He emphasized the sheer size of China's $13 trillion economy. Anticipating the headwind, Alibaba previously lowered its revenue outlook for its financial year ending March even before the top sales season.
"Concerns about trade tensions might affect sentiment, but Alibaba's exposure to the tangible effects of trade tariffs is small", Alibaba's executive vice-chairman, Joe Tsai, said on a post-earnings call on Wednesday. -China trade war. One area the market was focused on is spending by the company, with some analysts thinking that Alibaba could reign in expenditures because of the tougher operating environment. Chinese consumers are still fundamentally very strong and consumption is going to grow over the next 5 to 10 years, he added.
Chinese consumers are spending strongly despite an economic slowdown, the chief executive of Alibaba said yesterday.
The results propelled the shares of NY listed Alibaba to gain more than 6%, to US$166.82.
China's economic growth in 2018 slowed to its weakest in almost three decades amid faltering domestic demand and bruising USA tariffs. Apple this weak said its iPhone sales slipped in the holiday shopping quarter for the first time due to weak demand in the Asian country.
Revenue from core commerce increased 40 percent year-on-year to almost 103 billion yuan, while that from cloud computing was up 84 percent year-on-year to 6.6 billion yuan.
Champion race horse trainer Darren Weir and two other men have been arrested with police seizing a gun in an early morning raid. Victorian Racing Minister Martin Pakula said the investigation showed authorities were enforcing rules "without fear or favour".
In this walkthrough we'll take you through the best reasons to try the iOS 12 .2 beta on an iPhone, iPad, or iPod touch. We're still a ways off from the iOS 13 release date, and the beta of iOS 12 .2 shouldn't be seen as an alternative.
Krish has accused Ranaut of hijacking the filmmaking process even though he had been brought on as solo director. Krish said that he had to defend his filmmaking abilities because of the lies of Kangana Ranaut .
The fairytale finally came to an end, and a shocked Stefanos Tsitsipas could not quite explain his loss to Rafael Nadal . Nadal admitted that he was nonetheless anxious about his form after a near four-month absence from competitive play.
Espanyol had Marc Roca sent off stoppage time for second booking before Betis scored twice through Sergio Leon and Aissa Mandi. Two minutes later, Sergi Roberto extended the home side's cushion further after sweeping home a well-weighted pass from Messi.
There have been no new offers". "For our players, I want their full focus even if we know the market is still open until the 31". If Gueye is to leave Goodison Park before tomorrow's deadline, any potential deal is set to go right to the wire.
The U.S.is hitting Venezuela's state-owned oil company with sanctions aimed at increasing pressure on Maduro to leave office. Another mass opposition street demonstration is planned for Saturday, alongside a parallel pro-regime march.
Upcoming iPad And iPad Mini May Not Come With Face ID
For the last few months we've heard rumors about a new iPad Mini for 2019, while word of a new iPod Touch is a surprise for many. Data stemming from iOS 12 .12 beta suggests that Face ID authentication may not be supported with the new iPad and iPad mini .
Vatican spokesman, deputy stop with out rationalization
During Burke and Ovejero's tenure, the top two jobs in the Vatican press room were, unusually, held by non-Italians. Politics is not reserved just for those who rule but must involve everyone, Pope Francis said Tuesday, January 1.
Battered by wildfires and scandals, PG&E files for bankruptcy
Wildfire victims have little chance of getting punitive damages or taking their claims to a jury in a bankruptcy proceeding. Legal experts say the bankruptcy will likely take years to resolve and will result in higher rates for PG&E customers.
Foxconn reconsiders Wisconsin factory plans
Hon Hai now intends to turn the Wisconsin site into a base for mostly engineers and researchers, Reuters cited Woo as saying. Assembly Minority Leader Gordon Hintz, D-Oshkosh, said in a statement that Foxconn has "overpromised and under-delivered".