Cricut Inc
Change company Symbol lookup
Select an option...
CRCT Cricut Inc
SUI Sun Communities Inc
NSP Insperity Inc
AEE Ameren Corp
DLNG-B Dynagas LNG Partners LP
BTB Bit Brother Ltd
ESQ Esquire Financial Holdings Inc
CHH Choice Hotels International Inc
MIY BlackRock MuniYield Michigan Quality Fund, Inc.
TWTR Twitter Inc

Consumer Discretionary : Household Durables | Small Cap Growth
Company profile

Cricut Inc is a technology company that has designed and built a creativity platform that enables users to turn ideas into professional-looking handmade goods. Its connected machines, design applications and accessories and materials, its users create everything from personalized birthday cards, mugs and T-shirts to large-scale interior decorations and more. Its cloud-based software enables it to update the functionality and features of existing physical and digital products and to release new products that integrate with its platform. Its portfolio of connected machines cut, write, score and create decorative effects using a wide variety of materials including paper, vinyl, leather and more. It offers free design apps, in-app purchases and subscription offerings that enable its users to create and complete projects.

Closing Price
Day's Change
-1.24 (-6.08%)
B/A Size
Day's High
Day's Low

10-day average volume:

Alibaba stock heads for worst day in 11 months after earnings fall short, company cuts forecast

10:03 am ET November 18, 2021 (MarketWatch)

By Emily Bary

Company now expects to grow revenue by 20% to 23% for the fiscal year

A previous version of this report incorrectly stated the dollar figure for Alibaba's net income.

U.S.-listed shares of Alibaba Group Holding Ltd. are off 9.6% in morning trading Thursday after the Chinese e-commerce giant fell short of expectations with its latest financial results and reduced its full-year revenue outlook.

The shares are on track to post their largest single-day percentage decline since Dec. 24, 2020, when shares dropped 13.3%. They are also on pace for their second-worst percentage drop on record.

The company reported fiscal second-quarter net income of RMB5.4 billion ($833 million), or RMB1.97 per American depositary share, down from RMB28.8 billion, or RMB10.48 per ADS, in the year-earlier quarter. On an adjusted basis, Alibaba (9988.HK) earned RMB11.20 per ADS, down from RMB17.97 per ADS a year prior and below the FactSet consensus, which called for RMB11.86 per ADS.

"This quarter, Alibaba continued to firmly invest into our three strategic pillars of domestic consumption, globalization, and cloud computing to establish solid foundations for our long-term goal of sustainable growth in the future," Chief Executive Daniel Zhang said in a release.

Revenue increased to RMB200.7 billion from RMB155.1 billion, while analysts tracked by FactSet had been modeling RMB204.1 billion

Alibaba noted that it saw 1.24 billion annual active customers in the 12 months that ended Sept. 30. That marked a roughly 62 million increase from what the company recognized in the June quarter. Alibaba's active-customer total consisted of 953 million customers in China and 285 million customers overseas.

The company said that it now expects to grow fiscal 2022 revenue by 20% to 23%. At the beginning of the fiscal year, Alibaba targeted over RMB930 billion in revenue, which would have marked an increase of at least 29.7% from its fiscal 2021 total.

The company disclosed in its earnings report that the outlook reflects its "current view of macroeconomic conditions and the competitive landscape."

Chief Financial Officer Maggie Wu said in response to a question on the company's earnings call that "if you look at our guidance and then try to derive the second-half growth," that would imply "revenue growth at the teens." She noted that growth in overall gross domestic product and consumption in China has slowed but also said that Alibaba has been diversifying its revenue streams to include greater contributions from areas like cloud computing and international markets.

Alibaba's cloud business saw revenue increase 33% in the most recent quarter, outpacing the company's overall 29% revenue growth.

U.S.-listed shares of fellow Chinese e-commerce company Inc. (JD) are up 3% in morning trading Thursday after exceeded expectations with its own results.

Alibaba's U.S.-listed shares are off 15.3% over the past three months as the S&P 500 has risen 6.7% and as the KraneShares CSI China Internet ETF (KWEB) has added 6.4%.

-Emily Bary


(END) Dow Jones Newswires

November 18, 2021 10:03 ET (15:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.