Tag: alibaba

Alibaba's U.S.-listed stock rose by 3.5% in premarket trading on Thursday following the company's quarterly earnings report. The company posted its highest revenue since September 2021. Revenue for the quarter ended June 30 was 234.16 billion Chinese yuan ($32.29 billion); a 14% year-on-year rise that...

Alibaba Group Holding Ltd reported its quarterly earnings on Thursday, narrowly missing its revenue estimates. This comes after the company announced that its board approved a spinoff of its cloud computing business. The Chinese eCommerce giant reported revenue of 208.20 billion yuan ($30.12 billion) for the...

Japanese technology investor SoftBank Group Corp has decided to sell all of its remaining shares in Alibaba Group Holding Ltd, The Financial Times reported. This move saw Alibaba's stock sink by over 5.2% in Hong Kong on Thursday morning. SoftBank has long been looking to monetize...

Chinese e-commerce giant Alibaba announced on Tuesday that it would be splitting into six separate units. As a result of restructuring, the company will now consist of the following business group—Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group,...

Alibaba Group Holding Ltd. proved to be a major winner as U.S.-listed Chinese stocks advanced on Wednesday. The e-commerce giant's stock gained as much as 7.5%; its biggest jump since November. The company's stock rise comes after it received approval for its fundraising plan for...

Alibaba Group Holding Ltd recently revealed a string of results that were a lot better than they had been anticipating. Although there were murmurs of a strong sales contraction on the horizon, the Chinese retail giant was able to clap back against those rumors...