Source: Dreamstime
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While COVID-19 has been a nuisance for most businesses, the stay-at-home situation did lead to increased online shopping. This greatly benefitted leaders in this sector like Amazon, Etsy, Ebay and, of course, Alibaba, which posted net income of 47.59 billion yuan.
Total revenue, on the other hand, rose by about 34% to 153.75 billion yuan, crushing analyst expectations for a revenue of 147.77 billion yuan. The price of U.S.-listed shares went up shortly after the news, adding to the already massive 23% gains that the company has posted so far this year. Sales from Alibaba’s core commerce business skyrocketed by 34%, reaching 133.32 billion yuan ($19.27 billion).
Тhroughout fiscal Q1 2021 the company earned 14.82 yuan per American depository share (ADS). In contrast, analysts had expected 13.78 yuan per ADS.
“Our domestic core commerce business has fully recovered to pre-COVID-19 levels across the board, while cloud computing revenue grew 59% year-over-year.”
Chief Financial Officer Maggie Wu
Despite the strong financial results, some analysts fear that the recently reignited tensions between President Donald Trump and China could hamper Alibaba’s future growth. Earlier this month, the U.S. president threatened to ban TikTok, owned by China’s ByteDance, citing national security concerns, and suggested that he may sanction other Chinese businesses as well.
Upcoming reports
See the full list of upcoming earnings reports for 24 – 28 August in the tables below.
Monday, August 24 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Palo Alto Networks Inc | Fourth quarter of 2020 |
| United Kingdom | Bunzl PLC | Half year 2020 |
Tuesday, August 25 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Autodesk Inc | Second quarter of 2021 |
| USA | Hewlett Packard Enterprise Co | Third quarter of 2020 |
| USA | HEICO Corp | Third quarter of 2020 |
| USA | Urban Outfitters Inc | Second quarter of 2021 |
| USA | Salesforce.com Inc | Second quarter of 2021 |
| USA | Intuit Inc | Fourth quarter of 2020 |
| USA | Best Buy Co Inc | Second quarter of 2021 |
| USA | Lannett Company Inc | Fourth quarter of 2020 |
| Ireland | Medtronic PLC | First quarter of 2021 |
Wednesday, August 26 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Box Inc | Second quarter of 2021 |
| USA | NetApp Inc | First quarter of 2021 |
| Norway | Mowi ASA | Second quarter of 2020 |
Thursday, August 27 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Gap Inc | Second quarter of 2020 |
| USA | VMware Inc | Second quarter of 2021 |
| USA | HP Inc | Third quarter of 2020 |
| USA | Dollar General Corp | Second quarter of 2020 |
| USA | Dollar Tree Inc | Second quarter of 2020 |
| United Kingdom | Rolls-Royce Holdings PLC | Half year 2020 |
| Kingdom of the Netherlands | OCI NV | Half year 2020 |
| Germany | Fielmann AG | Second quarter of 2020 |
| United Kingdom | Hays PLC | Full year 2020 |
| United Kingdom | WPP PLC | Half year 2020 |
| Ireland | Flutter Entertainment PLC | Half year 2020 |
| Singapore | BW LPG Ltd | Half year 2020 |
| United Kingdom | Hunting PLC | Half year 2020 |
| France | Bouygues SA | Half year 2020 |
| Austria | EVN AG | Half year 2020 |
Friday, August 28 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| United Kingdom | Essentra PLC | Half year 2020 |
| Kingdom of the Netherlands | Norwegian Air Shuttle ASA | Second quarter of 2020 |
| Bermudas | Marvell Technology Group Ltd | Second quarter of 2021 |
| USA | Dell Technologies Inc | Second quarter of 2021 |
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