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Alibaba Boosts Share Buyback By $25 Billion After Dip In Estimated Revenue
Chinese e-commerce giant Alibaba Group will increase its share buyback programme by $25 billion, the company announced Wednesday, as it published disappointing quarterly results.
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Tencent to Cut Cloud Services Prices by Up to 40 Percent to Match Rivals
Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly recovery since abandoning strict COVID-19 restrictions last year.
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You Thought China’s Tech Slowdown Was Bad
For the first time in history, China’s two largest technology companies posted a decline in revenue as the nation faces unprecedented growth hurdles and an uncertain outlook. But 2,000 miles away, even bigger challenges await one of Southeast Asia’s biggest companies.
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Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China
Alibaba Thursday beat expectations for fourth-quarter revenue due to growing demand for some of its niche online shopping services in China as the country faces COVID-19 lockdown. The company, however, said it would not issue a forecast for the new fiscal year, citing pandemic-related risks and uncertainties.
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Tencent Posts Slowest-Ever Sale Rise in Q4, Regulation Impact Set to Ease
Tencent revenue grew just 8 percent in the fourth quarter, the slowest pace since it went public in 2004, reflecting regulatory scrutiny that has hurt both its gaming business and advertising sales.
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Alibaba Reports Slowest Revenue Growth Since Going Public as Competition Bites
Alibaba reported its slowest quarterly revenue growth since going public in 2014, hit by a drop in sales at its core business segment and intensifying competition.
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Tencent Rides Soaring Online Gaming Revenue to Post 65-Percent Rise in Q1 Profit
Tencent reported a forecast-beating 65 percent rise in quarterly profit, while management reiterated the company's focus on compliance as China steps up scrutiny on tech giants.
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Alibaba Pushed to First Operating Loss Since Going Public Due to China Anti-Monopoly Fine
Alibaba posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator.
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TikTok Owner ByteDance Said to See Massive Growth in Q1
Beijing-based ByteDance, the privately owned operator of short video app TikTok, booked around CNY 40 billion (roughly Rs. 43,000 crores) in revenue for the January-March quarter, said two people with knowledge of the matter.
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Europe's Luxury Brands Want Tougher Rules for Tech Rivals
Europe's luxury brands want EU regulators to take a tougher line against online retailing giants like Amazon and Alibaba on issues like data protection and counterfeiting, the head of a leading industry group said.
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JD.com Misses Revenue Estimates on Sluggish E-Commerce Sales
JD.com's sales volumes are seasonally lower in the third quarter as it ramps up to its November Singles' Day promotion period.
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Xiaomi Files for Hong Kong IPO, Listing Could Value It at $100 Billion
The listing could value the Xiaomi at up to $100 billion and would be the biggest Chinese tech IPO since Alibaba Group Holding raised $21.8 billion in 2014.
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Alibaba's Jack Ma Brags It Could Become World's 5th-Largest Economy
Corporate executives sometime like to talk about how their companies are overtaking nation states. In China, they tend to be careful not to outshine the government and avoid such analogies. Yet that's just what Jack Ma did last week.
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Alibaba Shrugs Off Slowing Chinese Economy as Revenue Surges
Alibaba's fledgling cloud computing business more than doubled sales and almost broke even.
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Alibaba's Revenue Jump 59 Percent, GMV Increases by a Quarter
Mobile revenue increased to CNY 17.51 billion, while monthly mobile active users increased 39 percent.
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Alibaba Boosts Share Buyback By $25 Billion After Dip In Estimated Revenue
Chinese e-commerce giant Alibaba Group will increase its share buyback programme by $25 billion, the company announced Wednesday, as it published disappointing quarterly results.
-
Tencent to Cut Cloud Services Prices by Up to 40 Percent to Match Rivals
Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly recovery since abandoning strict COVID-19 restrictions last year.
-
You Thought China’s Tech Slowdown Was Bad
For the first time in history, China’s two largest technology companies posted a decline in revenue as the nation faces unprecedented growth hurdles and an uncertain outlook. But 2,000 miles away, even bigger challenges await one of Southeast Asia’s biggest companies.
-
Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China
Alibaba Thursday beat expectations for fourth-quarter revenue due to growing demand for some of its niche online shopping services in China as the country faces COVID-19 lockdown. The company, however, said it would not issue a forecast for the new fiscal year, citing pandemic-related risks and uncertainties.
-
Tencent Posts Slowest-Ever Sale Rise in Q4, Regulation Impact Set to Ease
Tencent revenue grew just 8 percent in the fourth quarter, the slowest pace since it went public in 2004, reflecting regulatory scrutiny that has hurt both its gaming business and advertising sales.
-
Alibaba Reports Slowest Revenue Growth Since Going Public as Competition Bites
Alibaba reported its slowest quarterly revenue growth since going public in 2014, hit by a drop in sales at its core business segment and intensifying competition.
-
Tencent Rides Soaring Online Gaming Revenue to Post 65-Percent Rise in Q1 Profit
Tencent reported a forecast-beating 65 percent rise in quarterly profit, while management reiterated the company's focus on compliance as China steps up scrutiny on tech giants.
-
Alibaba Pushed to First Operating Loss Since Going Public Due to China Anti-Monopoly Fine
Alibaba posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator.
-
TikTok Owner ByteDance Said to See Massive Growth in Q1
Beijing-based ByteDance, the privately owned operator of short video app TikTok, booked around CNY 40 billion (roughly Rs. 43,000 crores) in revenue for the January-March quarter, said two people with knowledge of the matter.
-
Europe's Luxury Brands Want Tougher Rules for Tech Rivals
Europe's luxury brands want EU regulators to take a tougher line against online retailing giants like Amazon and Alibaba on issues like data protection and counterfeiting, the head of a leading industry group said.
-
JD.com Misses Revenue Estimates on Sluggish E-Commerce Sales
JD.com's sales volumes are seasonally lower in the third quarter as it ramps up to its November Singles' Day promotion period.
-
Xiaomi Files for Hong Kong IPO, Listing Could Value It at $100 Billion
The listing could value the Xiaomi at up to $100 billion and would be the biggest Chinese tech IPO since Alibaba Group Holding raised $21.8 billion in 2014.
-
Alibaba's Jack Ma Brags It Could Become World's 5th-Largest Economy
Corporate executives sometime like to talk about how their companies are overtaking nation states. In China, they tend to be careful not to outshine the government and avoid such analogies. Yet that's just what Jack Ma did last week.
-
Alibaba Shrugs Off Slowing Chinese Economy as Revenue Surges
Alibaba's fledgling cloud computing business more than doubled sales and almost broke even.
-
Alibaba's Revenue Jump 59 Percent, GMV Increases by a Quarter
Mobile revenue increased to CNY 17.51 billion, while monthly mobile active users increased 39 percent.
