Alibaba’s Profits, Revenues Up in Q3 by 51%

Posted by Joachim Bartels | Feb 7, 2014 | Alibaba, China, E-Commerce, Online Media - Buyer - Seller Platforms, Tencent Holdings, Uncategorized | 0 |

Alibaba Group posted a quarterly profit for the three-month ended 30^th September 2013. Net income attributable to shareholders in the period was US$792 million – that is a 12% increase compared to the previous quarter.

Alibaba’s revenues in the quarter jumped 51% year-on-year to reach US$1.78 billion. Compared with the previous quarters however, this represents a slowdown from the growth of 61% and 71% recorded in Q2 and Q1 respectively. However, Alibaba outperformed its key industry peers as Tencent posted revenue growth of 34% in their most recent financial quarter.

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

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