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CCTV Script 28/10/15

– This is the script of CNBC's news report for China's CCTV on October 28, Wednesday.

Welcome to CNBC Business Daily, I'm Qian Chen.

Apple up on earnings... Alibaba too... But Twitter tanks on weak outlook

Still...much of the heated cross-talk...is about the Cupertino giant.

Earnings, meanwhile, pleased the market. 80% of analysts have rated the stock as a 'Buy' -- with an average price target of $148.

Apple reported fiscal fourth-quarter earnings of $1.96 per share on sales of $51.5 billion.

Analysts expected the tech giant to report earnings of $1.88 per share on

$51.11 billion in revenue, according to a consensus estimate from Thomson Reuters. Shares were flat in up-and-down after-hours trading following the results.

The company sold 48.04 million iPhones in the quarter, as well as 9.88 million iPads. Both fell slightly short of Wall Street's expectations, according to StreetAccount.

Apple CEO Tim Cook told CNBC the company saw "no sign of a slowdown in China."

Revenue in greater China rose 99 percent year over year to $12.52 billion, but was down 5 percent from the previous quarter.

Apple's taking a bigger bite out of the Chinese market. CEO Tim Cook tipping that it'll soon become the company's number one destination for all its i-gadgets.

[IVAN (t) FEINSETH Tigress Financial Partners Chief Investment Officer] "062156 I was very happy with the Chinese results and I think it will continue because overall it has been shown that people will forgo other expenses or other expenditures to have the best smart phone and the best smart phone service because it is such an integral part of their professional lives so I am not surprised at all but I am very happy about it. 062218 "

More tech to check on now. And before we talk about Twitter we want to look at Alibaba.

The Chinese e-commerce giant is squeezing more money from online shopping than expected, beating analyst forecasts for revenue growth, as mobile shopping grows.

It beat forecasts thanks to outperformance in the mobile division. The company reported earnings of 57 cents per share vs estimates of 54 cents.

Revenue in Q3 jumped 32 percent on year to $3.5 billion dollars.

Alibaba is trying to replace decelerating volume growth in online shopping with new kinds of online buying, mirrored in its latest investments. For instance, Alibaba invested $4.6 billion in Suning Commerce Group during the quarter.

It also offered $3.5 billion to become sole owner of Youku Tudou, known as China's YouTube. Online video users in the country are beginning to cough up money for high-quality online streaming services.

[WENDY (t) HUANG Macquarie Head of Internet & Media Research, Asia ]"083721 Alibaba is becoming more and more complicated because they are using lots of their cash to buy movies, video () as well so that also suggests that they are moving away from light asset model to heavy asset model, driven model, especially I think the recent investment in Suning ... is essentially endorsing what JD has been doing over the past 10 years. 083747"

Turning to Twitter now.

The company has been slammed in extended trade...as concerns about growth continue to weigh.

Twitter delivered quarterly earnings and revenue that topped analysts' expectations on Tuesday. But light guidance sent shares tumbling in after hours.

The social media company posted third-quarter earnings of 10 cents per share on $569 million in revenue. Wall Street had expected the company to deliver quarterly earnings per share of 5 cents on $560 million in revenue, according to consensus estimates from Thomson Reuters.

Average monthly active users (MAUs) - a key measure of growth for Twitter - came in at 307 million for the quarter, a gain of only 3 million from the previous quarter. The metric did not include users who sign up for the platform through text message. MAUs were up 8 percent year over year.

It's been a tumultuous time for the social media company in 2015. In June, CEO Dick Costolo announced he was stepping down and would be replaced, on an interim basis, by Twitter co-founder Jack Dorsey. Earlier this month, Dorsey was named the permanent CEO. Also this month, the company announced that it was cutting about 336 jobs or 8 percent of its global workforce. Twitter on Wednesday also announced a slew of new offerings to make it easier for developers to build apps, make money, use Twitter content and take advantage of the social media's trove of data.

[JAMES (t) CAKMAK, Monness, Crespi, Hardt & Co. Inc Equity Analyst] "065157 It's early, but it seems like it's moving in the right direction.What's promising is how candid Jack Dorsey has been this entire time. First with investors, by saying, "look, things are not right, we have to start from scratch, everything is being questioned." 065208 Now with developers, first thing he does is apologise because they've have a very contestuous relationship, back and forth over the years. He's hitting the reset button there as well. 065223"

CNBC's Qian Chen, reporting from Singapore.

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