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.
Powering the Redmi Go is a modest 3,000mAh battery which charges via microUSB and it also lacks a fingerprint sensor. The Redmi Note 7 is ahead of the competition here too, coming with Android Pie 9.0 with Xiaomi's MIUI 10 on top.
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 .
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.
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 .
Dallas Mavericks undoubtedly have been very great in their game scoring three major wins from the eight games they scored. He'll tie Kevin Durant for third-most 30-point games if he scores 30 again before turning 20 on February 28.
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".
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.
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.
Coutinho nets 2 as Barcelona routs Sevilla to reach Copa semis
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.
Reasons Not to Install iOS 12.2 Beta & 4 Reasons You Should
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.