Alibaba (BABA) Q4 2024 Earnings
Alibaba said it is working on a rival to ChatGPT, an artificial intelligence chatbot that has sparked excitement around the world. Alibaba said its products are currently undergoing internal testing.
Quang Da | Visual China Group | Getty Images
alibaba Even though the Chinese e-commerce giant's net profit fell sharply, it outpaced sales in the fourth quarter of its fiscal year ended March.
Alibaba's March quarter earnings and LSEG consensus forecasts are as follows:
- Revenue: 221.9 billion Chinese yuan ($30.7 billion) compared to the expected 219.66 billion yuan.
Net profit attributable to common shareholders was 3.3 billion yuan, down 86% year-on-year.
Alibaba shares fell about 3% in U.S. premarket trading.
Alibaba's 2023 was an eventful yearwhen they carried out the largest operation in history. Review of corporate structure. The company also made several high-profile management changes, with company veteran Eddie Wu taking over as CEO in September.
The Chinese tech giant said earlier this year: Increase stock repurchase program by $25 billion Until the end of March 2027 to demonstrate confidence to shareholders.
This is breaking news. Please check back for more information.
Summarize this content to 100 words Alibaba said it is working on a rival to ChatGPT, an artificial intelligence chatbot that has sparked excitement around the world. Alibaba said its products are currently undergoing internal testing.Quang Da | Visual China Group | Getty Imagesalibaba Even though the Chinese e-commerce giant's net profit fell sharply, it outpaced sales in the fourth quarter of its fiscal year ended March.Alibaba's March quarter earnings and LSEG consensus forecasts are as follows:Revenue: 221.9 billion Chinese yuan ($30.7 billion) compared to the expected 219.66 billion yuan.Net profit attributable to common shareholders was 3.3 billion yuan, down 86% year-on-year.Alibaba shares fell about 3% in U.S. premarket trading.Alibaba's 2023 was an eventful yearwhen they carried out the largest operation in history. Review of corporate structure. The company also made several high-profile management changes, with company veteran Eddie Wu taking over as CEO in September.The Chinese tech giant said earlier this year: Increase stock repurchase program by $25 billion Until the end of March 2027 to demonstrate confidence to shareholders.This is breaking news. Please check back for more information.
https://www.cnbc.com/2024/05/14/alibaba-baba-earnings-q4-2024.html Alibaba (BABA) Q4 2024 Earnings
