(Alibaba) Shares of Chinese tech giant Alibaba fell more than 6% on Thursday after reporting a revenue of RMB242.58 billion or $38.066 billion in the December quarter.
The revenue, 10% higher than the prior year, was below an expected RMB246.37 billion.
The company reported that its revenue in China’s commerce segment rose by 7% to RMB172.226 billion or $27.026 billion.
Cloud segment revenue rose by 20% to RMB19.54 billion or $3.07 billion, while local consumer services segment expanded by 27% to RMB12.14 billion or $1.91 billion.
The Chinese tech giant reported annual active consumers of about 1.28 billion for the year that ended December 31, 2021, up by 43 million from the twelve months to September 30, 2021.
Alibaba reported a net income attributable to ordinary shareholders of RMB20.43 billion or $3.21 billion, down 74% from the prior year. Overall net income was reported at RMB19.22 billion or $3.02 billion, down by 75% from the prior year.
9988: HKG is down -6.67%.
