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    HomeNewsWorldInternational ResultsAlibaba revenue beats expectations with strong e-commerce growth

    Alibaba revenue beats expectations with strong e-commerce growth

    Revenue reached 34.3 billion yuan (USD 5.07 billion) in the three months to September 30, compared with the 33.9 billion yuan average of 24 analyst estimates surveyed by Thomson Reuters.

    November 03, 2016 / 13:44 IST

    Chinese e-commerce firm Alibaba Group Holding reported a 55 percent rise in second-quarter revenue, beating analyst estimates, on the back of core online sales and strong media and entertainment growth.

    Revenue reached 34.3 billion yuan (USD 5.07 billion) in the three months to September 30, compared with the 33.9 billion yuan average of 24 analyst estimates surveyed by Thomson Reuters.

    Net income attributable to shareholders fell to 2.97 yuan per share, or 0.45 cents, a 67 percent drop from 8.87 yuan per share in the year-earlier quarter.

    first published: Nov 3, 2016 08:12 am

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