Related News
Alibaba's earnings triple in first quarter
By Ding Yining |
July 17, 2013, Wednesday
|
Online Edition
Online Edition
ALIBABA Group, China's largest e-commerce company, saw earnings more than triple to US$680 million in the first quarter, making it the most profitable Chinese Internet company as its popular online shopping sites kept attracting vendors and shoppers.
Revenue jumped 71 percent to US$1.38 billion in the three months ended March 31, according to an earnings report released by Yahoo yesterday.
Tencent, China's largest Internet company in terms of market value, saw profit of US$657 million in the first quarter.
Yahoo holds about 24 percent stake in Alibaba Group.
The Hangzhou-based private company's businesses cover business-to-consumer operations as well as consumer-oriented shopping platforms.
The group's chief executive officer Jonathan Lu, who took over the post from founder and chairman Jack Ma in May, said earlier this month that the company is ready for an initial public offering but he didn't give a timetable.
Revenue jumped 71 percent to US$1.38 billion in the three months ended March 31, according to an earnings report released by Yahoo yesterday.
Tencent, China's largest Internet company in terms of market value, saw profit of US$657 million in the first quarter.
Yahoo holds about 24 percent stake in Alibaba Group.
The Hangzhou-based private company's businesses cover business-to-consumer operations as well as consumer-oriented shopping platforms.
The group's chief executive officer Jonathan Lu, who took over the post from founder and chairman Jack Ma in May, said earlier this month that the company is ready for an initial public offering but he didn't give a timetable.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
