Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 15 submissions in the queue.

Alibaba Revenues Surge 61% On Online Shopping

posted by Fnord666 on Saturday November 04 2017, @05:13AM   Printer-friendly
from the cheaper-ramen dept.

Phoenix666 writes:

Chinese e-commerce giant Alibaba has beaten market expectations with a huge jump in quarterly revenues fuelled by online shopping.

Revenues for the three months to September rose 61% on the same period a year earlier, to 55.1bn yuan ($8.3bn; £6.4bn). It also raised its revenue predictions for the full-year forecast.

Alibaba is expanding from its core online businesses to investments in supermarkets and stores. "We had an outstanding quarter," Alibaba chief executive Daniel Zhang said in a statement. "We are seeing the early results from our efforts to integrate online and offline with our new retail strategy".

For the July to September quarter, income from operations surged 83% from a year earlier, to 16.58bn yuan.

Original Submission

 
This discussion has been archived. No new comments can be posted.
Alibaba Revenues Surge 61% On Online Shopping | Log In/Create an Account | Top | 3 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 5, Informative) by Anonymous Coward on Saturday November 04 2017, @05:45AM

    by Anonymous Coward on Saturday November 04 2017, @05:45AM (#592087)

    ^ Trump voter

    Starting Score:    0  points
    Moderation   +5  
       Informative=5, Total=5
    Extra 'Informative' Modifier   0  
    Total Score:   5