Monday , September 26 2022

Alibaba Cloud division increased revenue by 90% / News /


Internet giant Alibaba Group giant reported the results of his work in the fiscal quarter closed on September 30, 2018. The company's cloud company continues to register rapid growth, contributing to overall revenue growth.

Between July and September 2018, Alibaba Cloud's revenue, which specializes in cloud computing and computer rental services, amounted to nearly $ 5.7 billion ($ 825 million), or 90% more than last year. In April-June, revenue grew by 93%.

See also: Billions in 85 seconds: Alibaba established a new record on the day of shopping in the world

Alibaba noise-adjusted noise before tax, debt and depreciation (EBITA) amounted to 232 million yuan (about $ 34 million) compared to a loss of 162 million yuan a year earlier. Operating losses exceeded 1.1 billion yuan ($ 170 million).

Alibaba's net profit in the reported quarter was 18.2 billion yuan (2.7 billion dollars), up from 17.4 billion yuan a year earlier. Alibaba's consolidated income rose from 55.1 to 85.1 billion yuan ($ 12.4 billion).

Earnings per share were $ 1.4. Analysts surveyed by FactSet expected Alibaba's adjusted earnings per share to be $ 1.06, compared to $ 1.29 last year.

84% of revenue was provided by e-commerce companies, 5% from cloud services, another 9% from multimedia and entertainment services. Another 2% of revenue has made it possible to obtain so-called innovation initiatives and other areas.

More than 80% of Alibaba's turnover is on the Chinese market. The user base of active buyers using Alibaba (Taobao, AliExpress, Tmall, etc.) exceeded 601 million by the end of September 2018.

Source link