Latest news with #Singles'Day
Yahoo
06-03-2025
- Business
- Yahoo
Bearish Bets Retreat as JD.com Set for Jump in Quarterly Sales
(Bloomberg) -- Short sellers are backing away from Inc. shares, with the Chinese online retailer set to report record quarterly sales on Thursday, fueled by Beijing's consumer trade-in subsidies. Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' Trump Administration Plans to Eliminate Dozens of Housing Offices How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low Remembering the Landscape Architect Who Embraced the City Short interest in US listed stock slipped to 0.9% of total shares outstanding as of Tuesday, according to S&P Global Inc. data. That was near the lowest level since September 2023 and compares with a recent high of 1.8% in January. A jump in quarterly revenue is likely to have been driven by last year's trade-in program for home appliances and strong numbers during the Singles' Day shopping festival. Revenue for the December quarter is expected to jump 8.5% from a year ago to 332 billion yuan ($45.9 billion), estimates show. Traders will also be keeping a close eye on the company's investment in its new food delivery business, given the tough competition with rival Meituan. In the Hong Kong options market, volume was elevated on Wednesday, with newly opened bullish positions changing hands. Some 2,500 calls expiring in May traded, with exercise levels of HK$200 and HK$170. The Hong Kong-listed stock hasn't closed above HK$170 since early October. --With assistance from Cecile Vannucci. The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump Trump's SALT Tax Promise Hinges on an Obscure Loophole Snack Makers Are Removing Fake Colors From Processed Foods ©2025 Bloomberg L.P.
USA Today
20-02-2025
- Business
- USA Today
Alibaba plans major AI investment as revenues rebound in third quarter
Alibaba plans major AI investment as revenues rebound in third quarter Show Caption Hide Caption Apple will use Alibaba AI tech in iPhones Apple Inc.'s iPhones will use Alibaba Group Holding Ltd.'s AI technology, the Chinese firm's chairman said, affirming reports the e-commerce pioneer had scored a coveted role in helping power the iPhone in the world's top mobile arena. Chairman and Co-founder Joe Tsai confirmed this during a panel at the World Governments Summit 2025 in Dubai. Bloomberg Alibaba on Thursday flagged plans to invest more in its "core businesses" of e-commerce and AI-powered cloud computing after reporting third-quarter revenues just above analysts' estimates on strong year-end sales. U.S.-listed shares of the company BABA.N were up 11% in early morning trading. Chief executive Eddie Wu, speaking to analysts, said AI was "the kind of opportunity for industry transformation that only comes around only once every few decades." He said Alibaba would invest more in AI and cloud computing over the next three years than it had in the past decade but did not put an exact figure on the investment amount. The company's revenue was 280.15 billion yuan ($38.58 billion) for the three months ended December 31, compared with 279.34 billion yuan expected by 17 analysts polled by LSEG. Chinese retailers such as Alibaba have cut prices and intensified promotional offers to revitalise consumer spending and drive sales at their core domestic e-commerce businesses. Healthy demand from international markets and increased spending by customers towards the year-end helped the company boost sales. China's annual Singles' Day sales event, a nationwide shopping festival in October and November, often viewed as a consumer sentiment barometer, ran longer than usual and led to a 26.6% rise in sales in major e-commerce platforms, according to data provider Syntun. Alibaba's domestic e-commerce business Taobao and Tmall Group produced revenue growth of 5% for the quarter and company executives said the division would continue to focus on market share stabilisation in the near future. 'AI juggernaut' Alibaba has kicked off 2025 as a winner in China's AI race, drawing in investors with strategic business deals. Its share price has risen more than 40% since the beginning of the year. "When it comes to Alibaba's AI strategy ... we aim to continue to develop models that extend the boundaries of intelligence," Wu said, adding that AI could eventually "have significant influence on or even replace 50% of global GDP". The inclusion of Alibaba co-founder Jack Ma in a meeting of private enterprise leaders chaired by China's President Xi Jinping this month, and photos of Ma shaking hands with Xi, has further raised investor confidence in Alibaba. "Alibaba has bagged a seat on the AI juggernaut and is now reaping rewards ... it's what is going on under the bonnet in terms of AI which is really moving the dial," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. "Alibaba has carved out a significant niche in the rapidly expanding world of cloud computing, providing the backbone for AI operations," she added. Alibaba said it is teaming up with Apple to power iPhones sold in China with its AI solutions, solidifying its foothold in a market where homegrown rival DeepSeek is making waves with cost-effective models. Alibaba unveiled an upgraded version of its Qwen 2.5 AI model in late January, saying it outperforms DeepSeek-V3. Alibaba's Cloud Intelligence Unit's revenue grew 13%. The company's international e-commerce business, which includes cross-border player AliExpress, wholesale B2B site and other regional platforms, remained one of its fastest growing, with 32% revenue growth in the quarter. Alibaba last November announced the integration of its domestic Chinese and international e-commerce platforms into a single business unit, the Alibaba E-commerce Business Group, bringing together the Taobao and Tmall Group and the Alibaba International Digital Commerce Group. In further steps to streamline its focus on core businesses e-commerce and cloud, Alibaba in recent months has shed assets, including offloading department store chain in time for a $1.3 billion loss in December. ($1 = 7.2613 Chinese yuan renminbi) Reporting by Harshita Mary Varghese in Bengaluru and Casey Hall in Shanghai; Editing by Arun Koyyur and Jane Merriman
Yahoo
20-02-2025
- Business
- Yahoo
Alibaba beats revenue estimates for third quarter amid strong year-end sales
(Reuters) - China's Alibaba Group Holding on Thursday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers. US-listed shares of the company were up 4.7% in pre-market trading after the earnings report. Chinese retailers such as Alibaba have slashed prices and intensified promotional offers to stoke consumer spending and drive sales at its core domestic e-commerce business. Healthy demand from international markets and increased spending by customers during the year-end has helped the company boost its sales and achieve stronger financial performance. Last year's annual Singles' Day sales event, a nationwide shopping festival often viewed as a barometer of consumer sentiment, ran longer than previous editions and led to a 26.6% rise in sales in major e-commerce platforms, according to data provider Syntun. The company reported revenue of 280.15 billion yuan ($38.58 billion) for the three months ended Dec. 31, compared with the 279.34 billion yuan expected by 17 analysts polled by LSEG.
Yahoo
20-02-2025
- Business
- Yahoo
Alibaba beats revenue estimates for third quarter
(Reuters) - China's Alibaba Group Holding on Wednesday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers. U.S.-listed shares of the company were up 2.7% in premarket trading. Chinese retailers such as Alibaba have slashed prices and intensified promotional offers to stoke consumer spending and drive sales at its core domestic e-commerce business. Healthy demand from international markets and increased spending by customers during the year-end has helped the company boost its sales and achieve stronger financial performance. Last year's annual Singles' Day sales event, a nationwide shopping festival often viewed as a barometer of consumer sentiment, ran longer than previous editions and led to a 26.6% rise in sales in major e-commerce platforms, according to data provider Syntun. The company reported revenue of 280.15 billion yuan ($38.58 billion) for the three months ended Dec. 31, compared with the 279.34 billion yuan expected by 17 analysts polled by LSEG. ($1 = 7.2613 Chinese yuan renminbi) Sign in to access your portfolio
Reuters
20-02-2025
- Business
- Reuters
Alibaba beats revenue estimates for third quarter
Feb 20 (Reuters) - China's Alibaba Group Holding ( opens new tab on Wednesday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers. U.S.-listed shares of the company were up 2.7% in premarket trading. Chinese retailers such as Alibaba have slashed prices and intensified promotional offers to stoke consumer spending and drive sales at its core domestic e-commerce business. Healthy demand from international markets and increased spending by customers during the year-end has helped the company boost its sales and achieve stronger financial performance. Last year's annual Singles' Day sales event, a nationwide shopping festival often viewed as a barometer of consumer sentiment, ran longer than previous editions and led to a 26.6% rise in sales in major e-commerce platforms, according to data provider Syntun. The company reported revenue of 280.15 billion yuan ($38.58 billion) for the three months ended Dec. 31, compared with the 279.34 billion yuan expected by 17 analysts polled by LSEG. ($1 = 7.2613 Chinese yuan renminbi) Get the latest news and expert analysis about the state of the global economy with the Reuters Econ World newsletter. Sign up here.
