China’s consumers purchased RMB57.1 billion (US$9.3 billion) in goods yesterday through the Alibaba-owned (BABA.NYSE) shopping site Tmall on its annual Singles Day event, Bloomberg reported, citing a statement from the company. Alibaba also signaled it was open to working with EBay’s (EBAY.NYSE) PayPal service to expand payment options, with Vice Chairman Joseph Tsai adding that Alibaba viewed Apple’s (AAPL.NASDAQ) payment […]
Category: Tech, Media & Telecom
Alibaba’s (BABA.NYSE) first quarterly earnings report showed revenue growth of 54% to US$2.74 billion, though stock awards given to employees and executives before the company’s IPO contributed to earnings falling 39% year-on-year to US$494 million, The Wall Street Journal reported. Together with those stock awards, increased expenses aimed at mobile customers and the cost of integrating […]
Smartphone maker Xiaomi is discussing a financing round valuing the company at US$40-50 billion, Bloomberg reported, citing unnamed sources. The discussions are at an early stage and nothing is finalized, said the sources, who asked not to be identified because the matter is private. The world’s third-biggest smartphone maker had a financing round in August […]
Baidu’s (BIDU.NASDAQ) stocks shot up to a record high in the US after the company reported forecast-beating third quarter profits, Bloomberg reported. Baidu’s American depositary receipts surged 5.6% to US$237.01 in New York, the highest close since its US listing in 2005. The Beijing-based search giant reported an operating profit margin of 29% for the […]
Baidu’s (BIDU.NASDAQ) sales in the third quarter fell below analysts’ estimates as the company continues a push into mobile services, Bloomberg reported, citing a statement from the company. Revenue climbed 52% to RMB13.5 billion (US$2.2 billion) from RMB8.89 billion, short of the RMB13.6 billion average of twelve analyst estimates compiled by the news service. Baidu’s […]