Chinese e-commerce giant Alibaba said Thursday its profit fell 59 percent in the last fiscal year, this is very unfortunate but of course we understand that these companies are bound to repeat and keep going forward this is just one of those cases.
Joining other tech firms that reported lacklustre results while grappling with Covid-19 restrictions and a sector crackdown, we can take comfort in knowing that the chief executive officer is not even worried about the minor deaf in market value because we know that he's someone who is very powerful and is made in a lot of money through this company.
Alibaba has also had to contend with heightened competition and a wide-ranging regulatory crackdown on alleged anti-competitive practices by China's tech giants, recently we have seen a lot of these activities being conducted but they are not something that the world should be worried about because everyone experience some fluctuations in market value during a covid-19.
https://ewn.co.za/2022/05/26/alibaba-profit-slumps-nearly-60-as-tech-crackdown-covid-bite/amp
Content created and supplied by: RSA_News (via Opera
News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform
See More
COMMENTS