The company is just a clearinghouse for merchandise that already exists. It has no quality control oversight.
January 30, 2015
...Its revenue surged 40 percent (click here) during quarter that included the holiday season but analysts were expecting more. That sent shares down 7 percent in premarket trading.
The news comes as the company, which went public in September in the U.S. in the biggest IPO ever, is facing a critical report from Chinese regulators that it is failing to do enough to prevent fake goods from being sold on its websites. Alibaba said the report is unfair and it is preparing a formal complaint.
In the October to December quarter, net income fell 28 percent to 5.84 billion yuan ($957 million), or 37 cents per share, from 8.27 billion yuan a year ago. Excluding one-time stock option and other costs, earnings totaled 81 cents per share. That beat analyst expectations of 75 cents per share, according to a survey by FactSet....
January 30, 2015
...Its revenue surged 40 percent (click here) during quarter that included the holiday season but analysts were expecting more. That sent shares down 7 percent in premarket trading.
The news comes as the company, which went public in September in the U.S. in the biggest IPO ever, is facing a critical report from Chinese regulators that it is failing to do enough to prevent fake goods from being sold on its websites. Alibaba said the report is unfair and it is preparing a formal complaint.
In the October to December quarter, net income fell 28 percent to 5.84 billion yuan ($957 million), or 37 cents per share, from 8.27 billion yuan a year ago. Excluding one-time stock option and other costs, earnings totaled 81 cents per share. That beat analyst expectations of 75 cents per share, according to a survey by FactSet....
