Alibaba Group Revenues in 4th Quarter Up 66%

Posted by Joachim Bartels | Apr 26, 2014 | Alibaba, China, E-Commerce, Online Media - Buyer - Seller Platforms, Taobao.com, Tmall, Uncategorized | 0 |

Alibaba Group reported net profit in the quarter of US$1.4 billion, up from US$642 million from the same quarter in the previous year. Revenues in the period grew 66% compared with the same quarter in 2012, amounting to US$3.1 billion.

The company attributed the 11^th November online shopping festival as a key driver of growth, during which Tmall.com and Taobao.com, Alibaba’s consumer-focused e-commerce platforms, reported a combined value of goods traded on their platform of RMB 35 billion (US$5.62 billion) in a single day.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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