Alibaba revenues up 39% as mobile drives significant growth in retail business
Alibaba is celebrating a positive annual results, with revenues increasing 39 per cent year-on-year, bolstered by an increase in mobile commerce and accelerated growth for its B2B cloud computing and ecommerce business.
The online retailer bucked economic trends, which has seen forecasts of a slowdown in the Chinese economy, increasing revenue from its China marketplace business by 41 per cent in the past year.
Overall revenue was RMB24,184m (US$3,751m), with RMB18,340m (US$2,844m) in revenue from China marketplaces.
A key driver for its success domestically and internationally has been the uptake in mobile commerce by its customers. Alibaba says mobile GMV now accounts for Read full story ›
Source: The Drum
