{"id":9272,"date":"2021-08-04T09:30:00","date_gmt":"2021-08-04T06:30:00","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=9272"},"modified":"2023-06-22T17:53:05","modified_gmt":"2023-06-22T14:53:05","slug":"alibaba-quarterly-report-and-shares-of-chinese-video-game-makers-falling","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2021\/08\/04\/alibaba-quarterly-report-and-shares-of-chinese-video-game-makers-falling\/","title":{"rendered":"Alibaba Quarterly Report and Shares of Chinese Video Game Makers Falling"},"content":{"rendered":"\n

Today, my article will be devoted to tech companies from China. This week, a report for Q2 was presented by Alibaba Group but I'll be talking not only about this. Criticism of online games from state-supported media pushed down the shares of Tencent, NetEase, Bilibili, and other manufacturers of this product. As you see, we definitely have things to talk about. Let's get started.<\/p>\n\n\n\n

<\/span>Alibaba Group report didn’t impress investors<\/span><\/h2>\n\n\n\n

On Tuesday, August 3rd, the results of April-June were reported by one of the largest Chinese corporations — Alibaba Group. Comparwd to the statistics of Q2, 2020, overall revenue increased by 34%, reaching $31.87 billion; revenue from cloud services grew by 29%, amounting to $2.48 billion, while revenue from electronic commerce rose by 35% to $27.9 billion.<\/p>\n\n\n\n

Moveover, Alibaba representatives stared that the already large-scale program of buying back stocks<\/a> would be increased from $10 billion to the record $15 billion. Note that in Q2 this year the company bought stocks for $3.7 billion.<\/p>\n\n\n\n

The reported financial results had a feeble influence over the company's quotations. On August 3rd, the stock price of Alibaba Group (HK: 9988) at the Hong Kong exchange grew by just 0.83% to 193.5 HKD.<\/p>\n\n\n\n

As for the stock price of the IT giant at the New York stock exchange<\/a> (NYSE: BABA), they dropped by 1.35%. This must be due to the growing pressure from the Chinese government on Chinese tech companies that trade at foreign stock exchanges. As you remember, Alibaba quotations have already lost 15.2% since the beginning of this year.<\/p>\n\n\n\n

<\/span>Important report details<\/span><\/h3>\n\n\n\n