Alibaba beats estimates as pandemic fuels online, cloud computing demand
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Needham & Company Reiterates Buy Rating on Alibaba (BABA)
August 21, 2020 7:40 AM EDTNeedham & Company analyst Vincent Yu reiterated a Buy rating and $275.00 price target on Alibaba (NYSE: BABA) following the company's June 2020 quarter. BABA reported better-than-expected results with a top line beat driven by the rebound in domestic consumer spending and cross-border business.
International commerce revenue... More
Pinduoduo (PDD) Tops Q2 EPS by 19c, Revenues Miss
August 21, 2020 6:02 AM EDTPinduoduo (NASDAQ: PDD) reported Q2 EPS of ($0.01), $0.19 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.75 billion.
Second Quarter 2020 Highlights
GMV1 in the twelve-month period ended June 30, 2020 was RMB1,268.7 billion (US$2179.6 billion), an increase of 79% from RMB709.1 billion in the twelve-month period ended June 30, 2019. Total revenues in the quarter were RMB12,193.3 million (US$1,725.9 million), an increase of 67% from... More