Alibaba: quarterly sales leap 61%

(CercleFinance.com) - On Thursday Alibaba Group announced a sharp rise in revenue earned over its quarter ended 30 June.


Compared with the same period in 2017, the Chinese e-commerce giant's overall revenues leapt 61% to 12.229 billion dollars. Revenues from its historic ecommerce business also rose by 61%, reaching 10.5 billion dollars.

The number of users of the group's platforms also rose - particularly on mobile phones (634 million, up 17 million from March 2018). Net income attributable to shareholders reached 1.212 billion dollars, down 41%, due to extraordinary payments, Alibaba said.

Following this solid publication, the Alibaba share is up almost 3.5% in early trading in New York.



Copyright (c) 2018 CercleFinance.com. All rights reserved.