Skip to main content

Alibaba reports 55 per cent rise in second-quarter revenue, beats expectations

Net income attributable to shareholders fell to 2.97 Yuan per share, or 0.45 cents, a 67 per cent drop from 8.87 Yuan per share in the year-earlier quarter. Photograph: (AFP)

Reuters Beijing, China Nov 02, 2016, 01.28 PM (IST)

Chinese e-commerce firm Alibaba Group Holding Ltd on Wednesday reported a 55 per cent 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 ($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 per cent drop from 8.87 Yuan per share in the year-earlier quarter.

($1 = 6.7600 Chinese yuan renminbi)

(Reuters)

Show Comments
  • delete