Alibaba retail sales surge 28%, over 60% on mobile

News Broadband China 27 OKT 2015
Alibaba retail sales surge 28%, over 60% on mobile
Chinese e-commerce giant Alibaba Group reported a strong set of third-quarter results, driven by its expanding online presence and new services such as cloud computing. Revenues rose 32 percent year-on-year to CNY 22.17 billion (USD 3.49 billion), and adjusted EBITDA was up 31 percent to CNY 11.15 billion. Net profit surged to CNY 22.70 billion from CNY 3.03 billion a year ago, thanks to a valuation gain on the acquisition of Alibaba Health during the quarter. Excluding this, net profit rose 36 percent to CNY 9.52 billion. 

On its retail marketplaces in China, the gross value of merchandise sold rose 28 percent year-on-year to CNY 713 billion, helped by expanding product and delivery options to smaller cities in China and a growing number of active buyers. Sales over mobile devices accounted for 62 percent of the total value sold, and mobile revenue was up 183 percent from a year earlier to CNY 10.52 billion. In cloud computing, Alibaba also more than doubled revenues, with growth of 128 percent to CNY 649 million. Revenues from the international commerce business rose 14 percent to CNY 1.84 billion. 

Alibaba reported free cash flow of CNY 13.62 billion for the quarter, up 52 percent from a year earlier. It spent CNY 17.38 billion on share repurchases in the quarter and finished the period with a total CNY 105.69 billion in cash available. 

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