Alibaba raises FY sales growth outlook after strong Q3

Tuesday 24 January 2017 | 15:51 CET | News
Alibaba Group has raised its full-year sales growth target to 53 percent from 48 percent, after reporting a third consecutive quarter of over 50 percent growth. Revenues in the fiscal third quarter to December rose 54 percent to CNY 53.25 billion (USD 7.7 billion). Group adjusted EBITDA rose 41 percent to CNY 27.02 billion, and net income increased 38 percent from a year ago to CNY 17.16 billion, as forex gains helped offset increased losses from affiliate companies. Adjusted free cash flow jumped 44 percent to CNY 34.12 billion, and the company finished the quarter with total cash of CNY

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Categories: Internet
Companies: Alibaba
Countries: China
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