Alibaba posts strong revenue growth in second fiscal quarter
Updated: 2016-11-03 08:48
(Xinhua)
|
|||||||||
Jack Ma, chairman of Alibaba Group, speaks at the Computing Conference 2016 in Hangzhou, East China's Zhejiang province, Oct 13, 2016. [Photo/IC] |
HANGZHOU - China's e-commerce powerhouse Alibaba posted robust revenue growth for its second fiscal quarter ending Sep 30, according to results announced on Wednesday night.
The group's revenue growth rose 55 percent year on year to about 34.3 billion yuan ($5 billion) in the quarter, exceeding market expectations.
Revenue from its core operations of e-commerce increased 41 percent year on year to about 28.5 billion yuan, while those of other reporting segments such as cloud computing, digital media and innovative initiatives all posted impressive performances.
"We expect each of these businesses to drive long-term value for both our customers and shareholders," said Maggie Wu, Alibaba's chief financial officer.
But the company's net income slipped about 69 percent year on year to 7.075 billion yuan in the quarter.
Alibaba's share price in pre-market trading in the United States rose more than 3 percent to 104 dollars after the results were announced.
- France to begin moving migrant minors from Calais
- China-Japan ties growing but unstable: Premier
- Analysts to watch Alibaba's cloud computing, mobile results
- UN Security Council hails election of new president in Lebanon
- Regular China-South Asia freight train launched
- Police swoop on Paris migrant camp after Calais Jungle clearout
- Robots draw people to China International Industry Fair
- German international Miroslav Klose retires
- Top 10 most influential Japanese cartoons in China
- Opera performer who takes her shows to villages
- 13 most appealing cars in China in 2016
- Obamas host White House Halloween for children
- China Fashion Week: Liu Yong Exclusive
- Top 5 collaborating countries in Belt and Road Initiatives
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
US election rhetoric unlikely to foreshadow future US-China relations
'Zero Hunger Run' held in Rome
Trump outlines anti-terror plan, proposing extreme vetting for immigrants
Phelps puts spotlight on cupping
US launches airstrikes against IS targets in Libya's Sirte
Ministry slams US-Korean THAAD deployment
Two police officers shot at protest in Dallas
Abe's blame game reveals his policies failing to get results
US Weekly
Geared to go |
The place to be |