Off the wire
• Estonia accuses Russia of airspace violation  • 2nd LD: Iran's top leader opposes restoration of ties with U.S.  • German artistic interactive module launches in Shanghai  • Roundup: Afghan forces foil Taliban attempts to overrun southern Trinkot city after killing 80 insurgent  • S.Korean president's former secretary placed under emergency detention for confidante scandal  • CBA Roundup: Yi's Guangdong lost to Shenzhen after shoe row  • 2nd LD-Writethru-China Focus: CPC regulation pledges no exception in intra-Party supervision  • China, Nepal, India can forge trilateral partnership focusing on economic growth, development: Nepali PM  • Indian, Nepali presidents hold talks on strengthening ties  • U.S. stocks open lower ahead of Fed announcement  
You are here: 　 Home

Alibaba posts strong revenue growth in 2nd fiscal quarter

Xinhua, November 2, 2016 Adjust font size:

China's e-commerce powerhouse Alibaba posted robust revenue growth for its second fiscal quarter ending Sept. 30, according to results announced on Wednesday night.

The group's revenue growth rose 55 percent year on year to about 34.3 billion yuan (5 billion U.S. dollars) in the quarter, exceeding market expectations.

Revenue from its core operations of e-commerce increased 41 percent year on year to about 28.5 billion yuan, while those of other reporting segments such as cloud computing, digital media and innovative initiatives all posted impressive performances.

"We expect each of these businesses to drive long-term value for both our customers and shareholders," said Maggie Wu, Alibaba's chief financial officer.

But the company's net income slipped about 69 percent year on year to 7.075 billion yuan in the quarter.

Alibaba's share price in pre-market trading in the United States rose more than 3 percent to 104 dollars after the results were announced. Endi