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.
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.
Reuters:
TSMC reports Q4 revenue up 26.7% YoY to $19.93B and net income up 78% YoY to $9.72B, beating estimates of ~$9.5B, even as the chip industry downturn continues — Taiwanese chipmaker TSMC (2330.TW) reported a forecast-beating 78% rise in quarterly profit on Thursday, as strong sales …
Debby Wu / Bloomberg:
TSMC reports Q3 revenue rose 48% YoY to ~$19.4B, beating ~$19B estimates, as Micron, Kioxia, Samsung, and others report faltering sales and weakening demand — Taiwan Semiconductor Manufacturing Co. reported higher-than-expected quarterly revenue, signaling the chip giant is benefiting …
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 …
Mike Wheatley / SiliconANGLE:
Micron reports Q4 revenue down 25% YoY to $6.64B, from $8.27B, plans to cut total capital spending by 30% YoY and wafer-fab equipment spending by nearly 50% YoY — Reporting its fiscal fourth-quarter earnings today,Micron Technology Inc. warned investors that it’s planning to take drastic measures …
Financial Times:
Sources: Chinese online fast fashion retailer Shein has been valued at $65B to $85B in private markets in recent months, down from $100B+ in April 2022 — Fast-fashion retailer popular with Gen-Z shoppers has been valued at $65bn-$85bn in private markets — Chinese fast-fashion retailer Shein …
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