Alibaba warns of slower growth after missing Wall Street earnings

alibaba china

Kabar Medsos – Alibaba reported sales and earnings for the third quarter that missed forecasts and warned that results for the year will be below estimates as well. The stock sank on the news.

Shares of Alibaba (BABA) were down 10% in early trading Thursday. The Chinese e-commerce giant reported sales growth of 29% from a year ago, to $31.1 billion. But Wall Street was expecting revenue of $32.1 billion. Earnings per share fell 38% from a year ago and also were below expectations.

The company also said that sales for its current fiscal year should rise between 20% and 23% from a year ago. Analysts were predicting growth of nearly 28%.

Alibaba, co-founded by Jack Ma, and fellow Chinese tech giants Tencent (TCEHY), Baidu (BIDU) and TikTok owner ByteDance, have been subject to increased regulatory scrutiny from the Chinese government lately. Beijing has cracked down on large corporations, which has hurt results.

In its earnings release, Alibaba cited “regulations” and a “regulatory environment that affect Alibaba’s business operations” as well as “privacy and data protection regulations and concerns” as some of the uncertainties it was facing.

Earlier this year, Alibaba was forced to cancel plans to take its Ant Group affiliate, which owns fintech giant Alipay, public.

Alibaba’s giant cloud business continues to post impressive results though. Revenue rose 33% from a year ago for that unit. Alibaba Cloud has helped the company expand beyond China as well, a key goal.

“Alibaba continued to firmly invest into our three strategic pillars of domestic consumption, globalization, and cloud computing to establish solid foundations for our long-term goal of sustainable growth in the future,” Alibaba chairman and CEO Daniel Zhang said in a statement.

Alibaba’s results come one week after the company wrapped up its annual Singles Day online shopping extravaganza. Chinese consumers continued to shop for bargains during the event, but sales growth for the platform was slower than last year.

Part of that is probably because of the regulatory environment, but Alibaba is also facing tougher competition as well as a slowdown in the Chinese economy.

During a conference call with analysts Thursday, Zhang said “economic headwinds, coupled by intensifying market competition also affected our core commerce business in China.”

He noted that there was a slowdown in apparel and general merchandise but that consumer electronics and furniture demand remained resilient.

Rival JD.com (JD) also reported earnings Thursday morning. Sales and profits topped forecasts, and the company’s shares were up nearly 4% in early trading.

“Consumers and business partners increasingly trust and rely on JD, and we were able to outpace the industry growth in China in the third quarter,” JD.com president Lei Xu said in the earnings release.

JD.com’s stock has surged more than 25% in the past six months while Alibaba shares have fallen nearly 25% during the same time frame.


Alibaba memperingatkan pertumbuhan yang lebih lambat setelah kehilangan pendapatan Wall Street

Kabar Medsos – Alibaba melaporkan penjualan dan pendapatan untuk kuartal ketiga yang meleset dari perkiraan dan memperingatkan bahwa hasil untuk tahun ini juga akan di bawah perkiraan. Saham tenggelam di berita.

Saham Alibaba (BABA) turun 10% pada awal perdagangan Kamis. Raksasa e-commerce China melaporkan pertumbuhan penjualan sebesar 29% dari tahun lalu, menjadi $31,1 miliar. Tapi Wall Street mengharapkan pendapatan $ 32,1 miliar. Laba per saham turun 38% dari tahun lalu dan juga di bawah ekspektasi.

Perusahaan juga mengatakan bahwa penjualan untuk tahun fiskal saat ini harus naik antara 20% dan 23% dari tahun lalu. Analis memperkirakan pertumbuhan hampir 28%.

Alibaba, yang didirikan oleh Jack Ma, dan sesama raksasa teknologi China Tencent (TCEHY), Baidu (BIDU) dan pemilik TikTok ByteDance, telah menjadi sasaran pengawasan peraturan yang meningkat dari pemerintah China akhir-akhir ini. Beijing telah menindak perusahaan-perusahaan besar, yang telah merugikan hasil.

Dalam rilis pendapatannya, Alibaba mengutip “peraturan” dan “lingkungan peraturan yang mempengaruhi operasi bisnis Alibaba” serta “peraturan dan masalah privasi dan perlindungan data” sebagai beberapa ketidakpastian yang dihadapinya.

Awal tahun ini, Alibaba terpaksa membatalkan rencana untuk mengambil afiliasi Ant Group-nya, yang memiliki raksasa fintech Alipay, ke publik.

Bisnis cloud raksasa Alibaba terus membukukan hasil yang mengesankan. Pendapatan naik 33% dari tahun lalu untuk unit itu. Alibaba Cloud telah membantu perusahaan berkembang di luar China juga, tujuan utama.

“Alibaba terus berinvestasi dengan kuat ke dalam tiga pilar strategis kami yaitu konsumsi domestik, globalisasi, dan komputasi awan untuk membangun fondasi yang kokoh bagi tujuan jangka panjang pertumbuhan berkelanjutan kami di masa depan,” kata ketua dan CEO Alibaba Daniel Zhang dalam sebuah pernyataan.

Hasil Alibaba datang satu minggu setelah perusahaan menyelesaikan ekstravaganza belanja online Singles Day tahunannya. Konsumen China terus berbelanja barang murah selama acara, tetapi pertumbuhan penjualan untuk platform tersebut lebih lambat dari tahun lalu.

Sebagian dari itu mungkin karena lingkungan peraturan, tetapi Alibaba juga menghadapi persaingan yang lebih ketat serta perlambatan ekonomi China.

Selama panggilan konferensi dengan para analis Kamis, Zhang mengatakan “hambatan ekonomi, ditambah dengan persaingan pasar yang semakin intensif juga mempengaruhi bisnis perdagangan inti kami di China.”

Dia mencatat bahwa ada perlambatan dalam pakaian jadi dan barang dagangan umum tetapi permintaan elektronik dan furnitur konsumen tetap bertahan.

Saingan JD.com (JD) juga melaporkan laba Kamis pagi. Penjualan dan keuntungan melampaui perkiraan, dan saham perusahaan naik hampir 4% di awal perdagangan.

“Konsumen dan mitra bisnis semakin percaya dan mengandalkan JD, dan kami mampu melampaui pertumbuhan industri di China pada kuartal ketiga,” kata presiden JD.com Lei Xu dalam rilis pendapatan.

Saham JD.com telah melonjak lebih dari 25% dalam enam bulan terakhir sementara saham Alibaba telah jatuh hampir 25% selama jangka waktu yang sama.

Bagikan di:
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Related posts

Leave a Comment