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Old 13th August 2015, 14:23   #1
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Default Revenues up at Alibaba

Online retailer Alibaba which sells into the lucrative Chinese market said it turned in revenues of $109 billion for the quarter ended the 30th June.

Thatís up $28 billion from the same period last year.

It also said it successfully monetised the mobile marketplace with revenues from transactions made on mobile devices exceeding desktop revenues.

The company, which is listed on the New York Stock Exchange (NYSE:BABA) said it grew its cloud computing and internet infrastructure business by 106 percent year on year, amounting to $78 million. It claims number one position in cloud computing services in China.

Alibaba has more customers in China than there are US citizens.

Grocery sales in Beijing increased by 740 percent in the quarter compared to the same quarter last year, with 90 percent of those orders coming from mobile devices.

http://www.techeye.net/news/revenues-up-at-alibaba
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