Alibaba has announced its revenues rose 65% year-on-year, to US$12.8 billion, during the December quarter of 2017, urging the company to increase its estimates for 2018 performance.
Alibaba says the strong results are due to the increasing popularity of its 11.11 festival, as well as its global focus on ‘new retail.’
Daniel Zhang, chief executive officer of Alibaba Group, said: “Alibaba had another great quarter driven by the continued strength of the Chinese consumer and the wide and innovative range of services we provide for merchants and consumers. We are excited by the continued momentum in Read full story ›
Source: The Drum
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