Chinese e-commerce giant Alibaba ‘sees revenues rise 42%’

Login

Register

http://www.clubofmozambique.com/

Chinese e-commerce giant Alibaba ‘sees revenues rise 42%’

8:39 CAT | 28 Aug 2019

It surpassed analysts’ expectations: Alibaba increased its revenues by 42% in the first quarter of this year.

From April to June, the income of China’s e-commerce giant rose to €14.7 billion, driven by the growth of its e-commerce and cloud computing units.

Over the same period it last year, its revenues were €10.4 billion.

J&P Daily Digest

E-Commerce: Alibaba Reports a Strong Revenue Gain of 42%

Today, Alibaba reported their earnings for the first quarter ending in June. #Alibaba reported #revenue of 114.9b #Chinese yuan ($16.7b), which is a 42% gain in comparison to the same period last year. pic.twitter.com/HhFZ2A2XIF

— J&P Accountants (@jpaccountantsuk) August 16, 2019

The company announced that its active consumer network has now reached 674 million users, an increase of 17% compared to last year.

Slowing domestic growth is now its biggest challenge. The online retail market is seen as saturated in China’s big cities.

In an #Alibaba warehouse.#IoT #AI #Robotics #Manufacturing #Logistics #Industry40 #InternetOfThings #ArtificialIntelligence pic.twitter.com/iN98TagKSp

— Jonathan Aufray ☕ (@JonathanAufray) August 16, 2019