Home » Alibaba, the maxi-fine is felt: quarterly loss of 1.17 billion

Alibaba, the maxi-fine is felt: quarterly loss of 1.17 billion

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The record fine by the Chinese antitrust authorities cost Alibaba losses of $ 1.17 billion (equivalent to € 982.8 million) in the fiscal quarter ended March 31. This was revealed by data from the e-commerce giant founded by Jack Ma, presented today. “Excluding this one-off impact, our operating profit would have been 10.565 billion yuan (1.612 billion dollars), an increase of 48% year on year,” reads the note released by Alibaba.

On an annual basis, Alibaba’s operating profit was 89.678 billion yuan (equal to 13.688 billion dollars) and suffered a 2% decline in the fiscal year ending last March, “primarily due to the aforementioned anti – monopolies “and an increase in expenses due to the compensation of the value paid by employees for the shares of Alibaba’s fintech arm, Ant Group, whose 37 billion dollar maxi-IPO was unexpectedly stopped last November a few hours from the double listing on the Shanghai and Hong Kong stock exchanges. Last month, China’s State Market Regulatory Administration imposed a fine of 18.23 billion yuan (2.33 billion euros) for violating the Chinese e-commerce giant’s anti-trust rules. , a figure equal to 4% of the group’s revenues in 2019, in what has so far been the highest point of the crackdown against the large Chinese tech conglomerates. Alibaba had stated that it accepted the fine, which it would pay using its financial reserves, and that it complied with the provisions of the Chinese authorities.

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