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Tag - AliBaba
Yahoo's quarterly financial results reveal it has marginally missed market estimates, but it still managed to improve on the last quarter, bringing in $1.18 billion in revenue after traffic acquisition costs (TAC), with a $0.30 non-GAAP earnings per share. The company also revealed it's intentions to spin out the last of its Alibaba stake, a move designed to prevent it from paying out a large amount of tax.
In an announcement today on its Alizila News site, the Alibaba Group revealed a plan to work together with Microsoft to crack down on counterfeit and pirated Microsoft products from being sold on Alibaba's Taobao and Tmall online stores in China. The two companies have signed a memorandum of understanding (MoU) which commits them to jointly conduct programs to alert customers to the dangers of using unlicensed software, and help them seek restitution if they were tricked into buying pirated products.
Apple and Chinese commerce site Alibaba are currently negotiating a partnership to provide a payment platform for China, according to the latter's executive vice chairman, Joseph Tsai. Tsai tells the Wall Street Journal that the partnership would revolve around Apple's presence in the country. Details are still in the air, but it could potentially see Alibaba's Alipay electronic payment service integrate in some way with Apple Pay, creating an encompassing mobile payment platform.
Yahoo released its third quarter financial results for 2014, stating that it pulled in approximately $1.15 billion in revenue to beat estimates. Analysts estimated that Yahoo would produce $1.04 billion in revenue, with an earnings per share of $0.30. While the revenue is good news for the company, it's due in large part to the $6.3 billion net of tax the company generated from the sale of shares of the Alibaba Group.
Chinese e-commerce behemoth Alibaba will officially launch its initial public offering on the New York Stock Exchange under symbol "BABA" Friday morning at commencement of trading. Executive Chairman of the company, Jack Ma, will be on hand to ring the opening bell on the start of trading, which is expected to reach between $20 and $25 billion.
Chinese search engine monolith Alibaba filed an initial public offering (IPO) prospectus on Tuesday. If predictions are accurate, the IPO will raise more than $15 billion, and very well could pass the technology IPO record set by Facebook at $16 billion before the offering is complete, with a large percentage of the funds raised headed to Yahoo.
Jack Ma, chief executive officer of Chinese e-retail giant Alibaba, has announced that he will step aside from his current role with the company. Ma, under whose tenure Alibaba has become the second largest online company in China, says he will assume the role of executive chairman. Ma also says that most of Alibaba's leaders "born in the 1960s" will also be handing off their leadership responsibilities to younger Alibaba executives.
Alibaba's net income has more than doubled year-over-year, according to filings released by Yahoo last week. The filings, given by Yahoo to the Securities and Exchange Commission, reveal that the privately held Chinese e-commerce company's incomes were up 113.4 percent year-over-year to $293 million for the quarter. The company's top-line rose 70.6 percent year-over-year to hit $1.1 billion for the quarter ending in June.
Following the closure of a deal in which it will sell back its stake in Chinese e-retailer Alibaba, Yahoo will return most of the cash to the company's shareholders. Yahoo will be giving out about $3.65 billion in after-tax proceeds from the deal, keeping about $650 million for the company. The company will retain control of 23 percent of Alibaba's common stock.
Google’s Andy Rubin has issued a further statement in the company’s ongoing war of words with Alibaba VP John Spelich. Spelich was moved to defend the Aliyun OS, arguing that it was not a fork of Google’s Android OS after Google forced OHA partner Asus to drop plans for a phone running the Aliyun OS. However, Rubin has retorted, “there’s really no disputing that Aliyun is based on the Android platform.”