Alibaba Q1 2013 Net Income Triples – Revenues up 71%

Posted by Joachim Bartels | Jul 18, 2013 | Alibaba, China, E-Commerce, Online Media - Buyer - Seller Platforms, Uncategorized | 0 |

E-commerce Alibaba Group Holding Ltd., announced that its first quarter earnings surged to $669 million from $220 million a year earlier on surging sales amid expectations. Alibaba’s revenue jumped 71% to $1.38 billion from $806 million in the prior year.

The company reported income from operations of $709 million, higher than $213 million a year ago. Yahoo, which owns about 24% of Alibaba, records the impact from Alibaba one quarter in arrears.

Alibaba announced on Tuesday that it had invested in travel website Qyer.com, without disclosing the deal’s value. The move followed two other investments in the past few months that were aimed to strengthen the company’s mobile-based business.

Source: rttnews.com

About The Author

Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.