Chinese e-commerce giant Alibaba exploded in terms of earnings for the four-month period ended September 30. Earnings rose 55 percent to 34.29 billion yen ($5 billion), more than Amazon and eBay combined.
„"Our high profitability allowed us to invest in the next development projects such as cloud computing, digital media, entertainment and of course innovation in the world. We expect that each of these businesses that we will start will be in the long run and that they will bring good quality to their users and their owners." Said the owner of Alibaba.
The company's revenue rose 41 percent from last year to ¥28.49 billion.
Net worth is 7.1 billion yen ($1.05 billion) increased to 22.7 billion yen ($3.35 billion).
„"In addition to the high performance of the current e-commerce business, we are satisfied with the accelerated growth of our cloud computing." Said Daniel Zhang, CEO of Alibaba Group.
Alibaba media and digital entertainment reformed again on Monday posted a 302 percent year-over-year increase in revenue. Mostly thanks to Youku Tudo, a local alternative to YouTube which is otherwise banned and blocked in China.
Kopnaija published this report just a few days before China's shopping day on November 11, which is the world's biggest online shopping day, even 10 times bigger than the American "Cyber Monday". Alibaba has won a world record revenue of 91.2 billion yen ($14.32 billion) in just one day!
We have to mention that there were very big discounts on November 11 last year, so it's definitely worth waiting and seeing what's hidden on their aliexpress.com website.
Happy shopping!
