Alibaba Cuts 2022 Forecast after Weaker Results
Alibaba slashed its 2022 forecast for fiscal revenue growth from the 27% projected by analysts to 20-23%, following sales that missed estimates for a second straight quarter. Alibaba reported a 29% rise in revenue for 3Q2021 to RMB 200.7bn ($31.4bn) lagging estimates...
Alibaba Led Consortium Nears $8bn Tsinghua Unigroup Takeover
A consortium led by Alibaba Group that includes funds backed by the Zhejiang government, has emerged as the frontrunner to take over troubled chipmaker Tsinghua Unigroup for a possible RMB 50bn ($7.8bn) deal. Sources say that the government is leaning towards the...
Alibaba Misses on Sales for First Time in 2 Years with Crackdown Impact Seen
Alibaba Group Holding Ltd for the first time in two years reported revenues that missed estimates. Revenues for Q2 climbed to CNY 205.7bn ($31.8bn), missing estimates of CNY 209.4bn ($32.4bn), though it was higher than the $23.7bn in 2Q2020. Net income was at CNY...
