Jane Zhang / Bloomberg:
Alibaba reports Q3 revenue up 3% to ~$29B, slightly above estimates, and a surprise ~$2.9B net loss, compared to an expected ~$2.6B profit — Alibaba Group Holding Ltd. reported a surprise loss after quarterly revenue barely grew, as China’s rigid Covid controls continue to sap consumer sentiment.
Nivedita Balu / Reuters:
Shopify reports Q3 revenue rose 22% YoY to $1.4B, above $1.34B estimates, and GMV grew 11% YoY to $46.2B; shares jump 7%+ — Shopify Inc (SHOP.TO) beat Wall Street estimates for quarterly revenue on Thursday, as businesses stuck to the Canadian online services provider’s tools and payment options to scale up.
Jane Zhang / Bloomberg:
JD.com reports Q3 revenue up 11% YoY to $34.2B, narrowly beating estimates, and ~$843M net income, reversing a ~$394M loss in Q3 2021 — JD.com Inc. reported higher sales last quarter after shoppers kept spending at China’s second-largest online retailer despite an economic downturn.
Tracy Qu / South China Morning Post:
After a 24+ hour Alibaba Cloud outage on December 18, Alibaba names Wu Zeming as CTO and says CEO Daniel Zhang Yong will oversee Cloud, effective immediately — Alibaba Group Holding has named a new chief technology officer (CTO) and removed the president of its cloud computing services unit …
Jane Zhang / Bloomberg:
Alibaba doesn’t disclose its Singles’ Day sales for the first time, instead saying gross merchandise value was in line with 2021, when it had $76.1B in sales — Alibaba Group Holding Ltd. decided not to disclose full sales results for its signature Singles’ Day shopping festival for the first time …
Zheping Huang / Bloomberg:
Kuaishou reports Q3 revenue up 12.9% YoY to ~$3.2B, beating estimates, and a ~$378M net loss, holding its own against ByteDance and China’s slowing economy — Kuaishou Technology’s revenue beat estimates, holding its own against a slowing Chinese economy and competition from TikTok owner ByteDance Ltd.
Yuvraj Malik / Reuters:
Mobileye reports Q3 revenue up 38% YoY to $450M, beating $447M estimates, and a $45M net loss, up from $26M YoY, in its first post-IPO earnings — Mobileye Global Inc (MBLY.O) beat estimates for revenue on Wednesday in its first quarterly report after going public in October, as the Intel Corp …
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