Huge turnover increase for Alibaba

Huge turnover increase for Alibaba

Chinese internet giant Alibaba has managed to significantly increase both its turnover and its number of customers in the past quarter, its first quarter as a public company.

Beat analysts' expectations

Alibaba's turnover grew 53.7 % to 2.74 billion dollars (2.2 billion euro) in the past quarter, outperforming analysts' expectations at 2.61 billion dollars. In its Chinese online marketplaces for businesses and consumers turnover grew 49 % thanks to a 52 % increase in customers. These sites now attract 307 million people, compared to 202 million last year. An increased number of ads have also helped to create additional turnover.

 

Net profit did drop 38.6 % to 494 million dollars (nearly 400 million euro), but that was the result of additional costs to compensate for shares and higher taxes. Operational profit did grow 15.5 % in the third quarter.

 

These were Alibaba's first quarterly results since the company went public in September and the results are boosting share prices: Alibaba, which owns Chinese marketplaces Taobao and Tmall, entered the New York Stock Exchange at a 68 dollar introductory price, but that has already soared to nearly 102 dollars.

Questions or comments? Please feel free to contact the editors


Safe.Shop is new global eCommerce trust mark

16/10/2017

Safe.Shop is the world’s first global eCommerce trust mark. Currently, only twelve countries signed up, but that number should increase in the future.

Fashion platform About You launches in the Netherlands and Belgium

11/10/2017

German fashion web shop About You, the second largest online European fashion retailer, officially launched in Belgium and the Netherlands following an unofficial launch in the Netherlands some time ago.

Alibaba invests billions in physical retail

28/08/2017

Over the past two years, Chinese eCommerce giant Alibaba has spent nearly seven billion euro in physical retail. Its Hema Xiansheng chain already has thirteen supermarkets and it acquired luxury department store Intime from the government in January.

Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Back to top