logo
  

Alibaba Slips To Loss In Q4

Alibaba Group Holding Limited (BABA) reported that its fourth-quarter net loss attributable to ordinary shareholders was RMB5.48 billion or US$836 million, compared to net income of RMB3.16 billion in the same quarter of 2020 primarily due to the Anti-monopoly Fine in the amount of US$2.78 billion, partly offset by the year-over-year decrease in net loss arising from the fair value changes of investments in the quarter ended March 31, 2021.

Loss per ADS was RMB1.99 or US$0.30 compared to earnings per ADS of RMB1.16 in the prior year.

Excluding the Anti-monopoly Fine, share-based compensation expense, revaluation and disposal gains/losses of investments, impairment of investments and intangible assets and certain other items, non-GAAP earnings per ADS for the quarter was RMB10.32 or US$1.58, an increase of 12% from the prior year.

Revenue for the quarter was RMB187.40 billion or US$28.60 billion, an increase of 64% from the prior year. The increase was mainly driven by the robust revenue growth of China commerce retail business, which includes the consolidation of Sun Art starting in October 2020, and the revenue growth of our Cainiao logistics services and cloud computing businesses. Analysts expected revenues of $28.06 billion for the fourth-quarter.

Excluding the consolidation of Sun Art, revenue would have grown 40% year-over-year to RMB159.95 billion or US$24.41 billion.

The company expects to generate over RMB930 billion in revenue in fiscal year 2022. The company plans to use all of incremental profits and additional capital in fiscal year 2022 to support merchants and invest into new businesses and key strategic areas that will help the company increase consumer wallet share and penetrate into new addressable markets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hedge-fund billionaire William Ackman's Pershing Square Tontine Holdings Ltd. (PSTH) agreed to acquire 10% of Universal Music Group from French media conglomerate Vivendi (VIV.L, VIVEF.PK) for about $4 billion, the companies said in a statement on Sunday. The 737 MAX 10, Boeing Co.'s largest 737 Max model, is taking its maiden flight today, reports said citing people familiar with the matter. The flight after months of testing and certification will be around 10 a.m. local time from the Seattle area. The schedule could change depending on weather or other factors. Meanwhile, the jetliner is expected to enter commercial service in 2023. Medical devices supplier Smiths Medical, affiliated to Smiths Group plc, is recalling certain Jelco Hypodermic Needle-Pro Fixed Needle insulin syringes with skewed graduation markings, the U.S. Food and Drug Administration said. The recall was initiated after the company became aware of specific models and lots of Jelco insulin syringes that may exhibit skewed odd number line graduation markings.
Follow RTT