Alibaba reports a tenfold jump from mobile devices helped drive overall revenues 46 per cent higher to Rmb15.8bn ($2.6bn) in the second quarter, while net income nearly tripled to Rmb12.3bn.
Analysts have focused on Alibaba’s ability to draw mobile users to its marketplace amid fierce fighting among China’s tech groups for customers glued to their smartphones. The group said a third of overall sales by value took place via mobile last quarter, up from 12 per cent last year, as the number of smartphone shoppers hit 188m in June, from 136m last December.
Alibaba also increased its internal valuation to $140bn, from $133bn earlier this month and $119bn in June, according to a regulatory filing ahead of its roadshow in Asia, which could start as early as next week.
Source: Financial Times
