Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of soaring growth in online shopping. Alibaba, which has made billionaire founder Jack Ma one of China’s richest men, is a dominant player in online commerce and its robust earnings highlight the strength of the sector even … Read more
Alibaba Group Holding Ltd on Tuesday posted a 54 percent rise in third-quarter revenue, beating analyst estimates, helped by higher sales during its Single’s Day shopping event and increased earnings in its cloud and digital media ventures. The company said it would be raising its 2017 full-year guidance for revenue growth from 48 percent to … Read more
Shoppers in Britain are taking advantage of the annual shopping extravaganza known as Singles Day-one of China’s biggest annual shopping sprees. What started out as an anti-Valentine’s Day event is now better known as an opportunity for massive retail therapy. And it is not just limited to bachelors and bachelorettes, or to customers in China. … Read more
E-commerce giant Alibaba has beaten its sales record for its annual Singles Day event. About 20 hours into the event, Alibaba sales had reached 103bn yuan ($15bn; £12bn), easily topping the previous record set last year of $14.3bn. But some have questioned the accuracy of the numbers, amid claims of inflated sales data at Chinese … Read more
E-commerce giant Alibaba looks set to smash the sales record for its annual Singles Day event. About 12 hours into the event, sales had reached 82.4bn yuan ($12.1bn; £10bn), the firm said. Last year’s record was $14.3bn. But some have questioned the accuracy of the numbers, amid claims of inflated sales data at online retailers … Read more
Chinese online shopping giant Alibaba Group Holding Ltd reported a 55 percent rise in second-quarter revenue on Wednesday, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth. It was a second straight quarter of robust results for the company, suggesting it can still generate strong growth even as … Read more