Saturday August 11, 2012
Alibaba Q1 net profit, revenue soar
SHANGHAI: Alibaba Group, China's largest e-commerce company, posted a 64% rise in revenue in the January-March quarter and a six-fold rise in net profit, cementing its position as a key beneficiary of China's e-commerce explosion.
Alibaba's net profit for the first quarter jumped to US$220.5mil from US$29.6mil a year ago. Its sales climbed to US$805.9mil, according to a filing by Yahoo Inc to the US Securities and Exchange Commission. Reuters