Alibaba missed expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer.
Revenue was up 4% year-on-year, while net income dropped 29% year-on-year. Alibaba said the net income fall was"primarily due to a decrease in income from operations" and"increase in impairment" from its investments.White House says negotiated prices for Medicare drugs will save U.S. $6 billion, beneficiaries $1.5 billion in first year
Wu has previously said the company intends to release new monetization features for its e-commerce platforms that should return the Taobao and Tmall business back to growth toward the latter half of 2025.
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Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdingsJapanese technology giant SoftBank Group has reported a smaller loss for the April-June quarter compared to a year earlier.
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Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdingsJapanese technology giant SoftBank Group has reported a smaller loss for the April-June quarter compared to a year earlier.
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Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdingsJapanese technology giant SoftBank Group has reported a smaller loss for the April-June quarter compared to a year earlier. Tokyo-based SoftBank said Wednesday that its losses in the last quarter totaled 174 billion yen, or $1.2 billion. It racked up nearly 478 billion yen in red ink in the same period of last year.
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Alibaba Stock Price Faces Headwinds Ahead of EarningsE-commerce giant Alibaba will report on 15 August, and weaker performance is expected due to growing competition and a slowing Chinese economy.
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