Wednesday , January 27 2021

Alibaba Cloud Business Unit Increases Sales by 90% / News / Finance.ua



The Chinese Internet giant, Alibaba Group, reported on the results of its quarterly financial results, which ended on September 30, 2018. Your company's cloud business continues to grow rapidly and contributes to overall revenue growth.

In July-September 2018, the Alibaba Cloud division, which specializes in cloud computing and computing infrastructure leasing services, generated revenue of approximately 5.7 billion yuan ($ 825 million), up 90% from the previous year. April-June sales increased 93%.

Reference : Billion in 85 seconds: Alibaba set a new record for World Shopping Day.

Alibaba Cloud Adjustment Loss Before Taxes, Debt Interests and DepreciationEBITA) Was 223 million yuan (about 34 million dollars) compared to 162 million yuan in the previous year. The operating loss exceeded RMB 1.1 billion ($ 170 million).

Overall, Alibaba's net income for the reporting period was 18.2 billion yuan ($ 2.7 billion), up from 17.4 billion yuan in the previous year. Alibaba's consolidated revenue has increased from 55.1 to 85.1 billion yuan ($ 12.4 billion).

Adjusted earnings per share were $ 1.4. Analysts surveyed by FactSet predicted Alibaba's adjusted earnings per share would be $ 1.06 compared to $ 1.29 last year.

84% of income was from e-commerce companies, 5% from cloud services, and 9% from multimedia and entertainment services. 2% of income was able to gain so-called innovation initiatives and other areas.

More than 80% of Alibaba's revenues are in the Chinese market. The user base of active buyers using services from Alibaba (Taobao, AliExpress, Tmall, etc.) exceeded 610 million by the end of September 2018.


Source link