That came even as revenue rose at a faster-than-expected 60 percent to 38.6 billion yuan ($5.6 billion). Income tax expenses soared 149 percent to 4.6 billion yuan in the March quarter. China's biggest e-commerce company posted adjusted earnings-per-share of 4.35 yuan, missing the 4.51 yuan average of estimates compiled by Bloomberg. Alibaba Group Holding Ltd.'s earnings lagged estimates after it swallowed a higher tax bill and splurged on the entertainment and cloud computing businesses that are fueling revenue growth. The strength of its e-commerce business is helping Alibaba weather losses in newer businesses of cloud computing and digital entertainment.
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(RTTNews) - German drug major Merck KgaA (MKGAY.PK) reported Thursday that its first-quarter profit after tax declined 11.8 percent to 523 million euros from 593 million euros a year ago. EBITDA fell 6.2 percent to 1.20 billion euros, while adjusted EBITDA grew 14.5 percent to 1.24 billion euros. Net sales increased 5.3 percent to 3.86 billion euros from 3.67 billion euros a year ago. In the year 2016, the company's adjusted EBITDA was 4.5 billion euros and net sales were 15.0 billion euros. Looking ahead, for 2017, the company projects EBITDA pre exceptionals in a range of between 4.4 billion euros and 4.6 billion euros, and net sales to increase to between 15.5 billion euros and 16.0 billion euros.
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Target Boosts Profit But Same-Store Sales Fall
Target reported increased profit that beat analysts' estimates but another decline in same-store sales indicated the difficulty in stemming the shift to online shopping. But the decline in same-store sales reflected not only fewer shopper visits but also fewer items purchased by shoppers. But revenue fell 1.1%, to $16.02 billion, and same-store sales were down 1.3%. For the second quarter, Target expects another low-single digit decline in comparable sales, and adjusted earnings per share of between 95 cents to $1.15. "Target's not out of the woods, yet," Michael Lasser, a retail analyst for UBS, told CNBC.(RTTNews) - German drug major Merck KgaA (MKGAY.PK) reported Thursday that its first-quarter profit after tax declined 11.8 percent to 523 million euros from 593 million euros a year ago. EBITDA fell 6.2 percent to 1.20 billion euros, while adjusted EBITDA grew 14.5 percent to 1.24 billion euros. Net sales increased 5.3 percent to 3.86 billion euros from 3.67 billion euros a year ago. In the year 2016, the company's adjusted EBITDA was 4.5 billion euros and net sales were 15.0 billion euros. Looking ahead, for 2017, the company projects EBITDA pre exceptionals in a range of between 4.4 billion euros and 4.6 billion euros, and net sales to increase to between 15.5 billion euros and 16.0 billion euros.
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