A year ago, Alibaba executives were preparing a roadshow that paved the way for one of the biggest initial public offerings in history.
As the company reported its earnings on Wednesday, saying net profit had risen a less-than-expected 28 percent, it appeared the excitement that drew bankers to crowded rooms across the globe to hear Alibaba’s pitch had dulled.
Faced with a slowing economy, new challenges making money on smartphones and a little bad luck, Alibaba’s stock has fallen about 35 percent from its November 2014 highs, and was just 14 percent above the I.P.O. price of $68 before the latest results were released.
As part of its efforts to shore up its share price, Alibaba said on Wednesday that it would authorize a $4 billion share buyback program over two years. The program is intended to help offset dilution of shares from employee compensation tied to stock.
In a rare moment speaking for Alibaba’s founder, Jack Ma, the company’s executive vice chairman, Joe Tsai, said neither of them would sell shares. Their first opportunity to do so is next month.
“I usually don’t speak on behalf of Jack, but on this one he’s authorized me to talk on his behalf. Jack and I have zero intentions to sell other than a small amount that is in our charitable trusts,” Mr. Tsai said.
Mr. Tsai said Yahoo’s and SoftBank’s shares also “unlock” next month. Since Yahoo announced its intention to spin off its Alibaba stock in January, those shares have lost more than $11 billion in value.
Stop breadboarding and soldering – start making immediately! Adafruit’s Circuit Playground is jam-packed with LEDs, sensors, buttons, alligator clip pads and more. Build projects with Circuit Playground in a few minutes with the drag-and-drop MakeCode programming site, learn computer science using the CS Discoveries class on code.org, jump into CircuitPython to learn Python and hardware together, TinyGO, or even use the Arduino IDE. Circuit Playground Express is the newest and best Circuit Playground board, with support for CircuitPython, MakeCode, and Arduino. It has a powerful processor, 10 NeoPixels, mini speaker, InfraRed receive and transmit, two buttons, a switch, 14 alligator clip pads, and lots of sensors: capacitive touch, IR proximity, temperature, light, motion and sound. A whole wide world of electronics and coding is waiting for you, and it fits in the palm of your hand.
Have an amazing project to share? The Electronics Show and Tell is every Wednesday at 7pm ET! To join, head over to YouTube and check out the show’s live chat – we’ll post the link there.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — Savannah tells the story of the supply chain crisis in the U.S.
Wearables — Feathers from leather
Electronics — Get Oriented!
Python for Microcontrollers — Python on Microcontrollers Newsletter: Events, Projects, and much more! #Python #Adafruit #CircuitPython @micropython @ThePSF
Adafruit IoT Monthly — No-Code IoT with WipperSnapper, Beaming Internet across the Congo, and more!
Microsoft MakeCode — MakeCode Thank You!
EYE on NPI — Maxim’s Himalaya uSLIC Step-Down Power Module #EyeOnNPI @maximintegrated @digikey
New Products – Adafruit Industries – Makers, hackers, artists, designers and engineers! — JP’s Product Pick of the Week 10/19/21 DRV2506L Haptic Motor Controller @adafruit @johnedgarpark #adafruit #newproductpick
No comments yet.
Sorry, the comment form is closed at this time.