Alibaba Recorded Revenue Growth of 59% Amounting To $4.85 Billion
Chinas e-commerce giant Alibaba has recorded a revenue growth of 59 per cent amounting to USD 4.85 billion in the first fiscal quarter ending June, the fastest since its Initial Public Offerings.
The revenue of 32.15 billion yuan (USD 4.85 billion) topped market estimates, pushing Alibabas share price up by 5 per cent to about USD 92 in New York.
Gross Merchandise Volume (GMV) transacted in Alibabas China retail marketplace was 837 billion yuan (USD 125 billion), up by 24 per cent year on year, state-run Xinhua news agency reported.
The number of annual active buyers on China retail marketplace rose to 434 million by the end of the first fiscal quarter.
The mobile revenue of China retail marketplace was 17.5 billion yuan (USD 2.6 billion) , representing 75 per cent of total Chi...