Skip to main content

Alibaba's profit doubled for second quarter this year

Alibaba's profit has nearly doubled for the second quarter of this year. Alibaba Group reported a net profit of US$ 2.2 billion for the second quarter of 2017, up 96 percent from second quarter profits in 2016. A US$7.4 billion or 56 percent increase from about 466 million active buyers who traded over the past 12 months was impressive.

Tinuku Alibaba's profit doubled for second quarter this year

Core Alibaba's trade business provides a majority of revenues of US$ 6.4 billion, but 58 percent of annual growth is driven more by smaller business units considered to be signs of future prospects.

Now Alibaba has a valuation of about US$400 billion and competes with Tencent Holdings as another Chinese giant. The announcement on Thursday put Alibaba shares for global investors in addition to Facebook with a US$490 billion valuation and Amazon with US$470 billion.

"Alibaba has a strong start to 2018 driven by the strength and diversity of our business and the added value we provide to consumers through existing platforms. Technology is driving significant growth in our business and strengthening Alibaba's position not just the core trading sector,"Alibaba Group CEO Daniel Zhang said.

One of the most impressive units is cloud computing which grew 96 percent and recorded revenue of US$359 million. Alibaba also said the number of users of cloud computing services has surpassed 1 million clients.

Alibaba has spent most of its profits to Southeast Asia by buying 83 percent of Lazada's US$2 billion stake and a recent announcement of US$1.1 billion of investments into Tokopedia as a strategic move to seize the Southeast Asian market from Amazon's threat to the region this month.

The other sector is an Ant Finance affiliate responsible for trillions of dollars of money transfers each year continuing to expand the business and have an offer for MoneyGram as a money transfer company to America.

Investors are becoming more aware that Alibaba and Tencent have gone into daily life, shopping and entertainment. Tencent which offers video games and social media services that are very popular on Wednesday also announced increased quarterly profits and keep their stocks high.


Popular posts

Conservative cleric vice president candidate of Indonesia, abstentions rose

Tinuku - Indonesian President Joko Widodo chose an elderly Muslim cleric Ma'ruf Amin as vice presidential candidate for the 2019 presidential election to become a red record for human rights activists. The figure who actively strives to criminalize minorities and sexuality is seen as a way to reverse human rights enforcement.

Lokataru's director, Haris Azhar, is still campaigning not to elect the presidential and vice presidential candidates. The declaration of two candidate pairs, especially the choice by Joko Widodo to Ma'ruf Amin as vice president and presidential candidate Prabowo Subianto on Sandiaga Uno as vice president, strengthened the minds of human rights activists.

"It's still the same. In fact, it is increasingly proven. From a human rights perspective, all candidates are violators of human rights. So I think the four candidates are the same, not friendly to human rights, not friendly to the environment," said Azhar told to Deutsche Welle Indones…

Nvidia expands in artificial intelligence, but Intel has taken root

Tinuku - Nvidia Corp dominates chips for training computers to think like humans, but it faces an entrenched competitor in a major avenue for expansion in the artificial intelligence chip market Intel Corp.

Nvidia chips dominate the AI training chip market, where huge amounts of data help algorithms “learn” a task such how to recognize a human voice, but one of the biggest growth areas in the field will be deploying computers that implement the “learned” tasks. Intel dominates data centers where such tasks are likely to be carried out.

But Intel processors already are widely used for taking a trained artificial intelligence algorithm and putting it to use, for example by scanning incoming audio and translating that into text-based requests, what is called “inference.” Intel’s chips can still work just fine there, especially when paired with huge amounts of memory.

That market could be bigger than the training market who sees an inference market of $11.8 billion by 2021, versus $8.2 bi…

Ant Financial entered Indonesia in partnership with Emtek

Tinuku - Alibaba Group’s Ant Financial Services is making its first foray into Indonesia with plans to launch a new mobile platform for payment and other financial services in partnership with a local firm.

Ant Financial, operator of China’s popular online payment platform Alipay, announced on Wednesday that it will set up a joint venture with Indonesian digital company Emtek.

Without disclosing the size of the investment, the two companies said the joint venture will leverage Ant Financial’s experience and know-how in mobile payment, digital financial innovations, risk control and cloud computing.

To begin with, the new payment platform will be offered on BBM, Indonesia’s most commonly used messenger application, which is operated by a subsidiary of Emtek and has a user base of over 63 million monthly active users.

“Ant Financial has proven know-how in delivering payment and other financial solutions to a large and growing mobile audience in China and enabling its partners globally, …

Construction earthquake-resistant design dome home village in Yogyakarta

Tinuku ~ Earthquake resistant dome house in Nglepen, Prambanan, Yogyakarta, built by non-governmental Domes for the World Foundation in area 2.5 hectares total of 80 units has unique shape and often refer to Teletubbies house.