After the completion of the first months of the year, many giant companies from all over the world share their revenues in this process. Now, the China-based e-commerce giant ali daddypublished data on its earnings in the first three months of the year.

Alibaba, one of the largest companies in the world, has recently sprung up in China due to the pandemic. your limitations and the country’s economy your delays then shared its earnings in the March quarter. When the data is examined; however, net income was observed to fall.

Net profit decreased by 59%

Alibaba, which is of great importance in e-commerce with its operations in many fields and countries, stated that its earnings 204.05 billion yuan; that’s $32.19 billion announced it has arrived. This number was said to be higher than the analysts’ estimate of 200.6 billion yuan ($29.7 billion). However, this 9% increase, driven by domestic trade and cloud technologies, among other things, is the reason why the company went public in 2014. slowest ascent It also made the news.

In addition, the statements stated that the company, which has more than one billion customers, has achieved sales of 853.1 billion yuan ($126.5 billion), an increase of 19% over the past year, surpassing forecasts of outperforming analysts. However, the financial results showed that the company’s net income fell to 62 billion yuan ($9.2 billion). a drop of 59% turned out to be alive. It was also mentioned that the company’s stock has lost 31.8% of its value since the beginning of the year.

In addition, the company’s cloud technologies division reported profits of 1.1 billion yuan ($163 million) in the January-March quarter. has pioneered reported.

According to statements, in recent months in China Increasing cases of COVID-19 and economic slowdowns to these results caused. The company’s CEO Daniel Zhang Yong also stated that the improvement may not happen immediately; but the situation is slow starts to improve stated that they expected progress in these months.