| Title | Alibaba Revenues Surge 61% On Online Shopping | |
| Date | Saturday November 04 2017, @05:13AM | |
| Author | Fnord666 | |
| Topic | ||
| from the cheaper-ramen dept. | ||
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.
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printed from SoylentNews, Alibaba Revenues Surge 61% On Online Shopping on 2026-04-21 03:39:19