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Alibaba revenues jump 54% to CNY 85.1 bln in fall quarter amid some caution ahead

Friday 2 November 2018 | 14:06 CET | News

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Alibaba said revenues jumped 54 percent from the year before to CNY 85.148 billion (USD 12.398 billion) in the quarter to end September, with revenues rising 90 percent for cloud computing, 24 percent for digital media and entertainment and 20 percent for innovation initiatives. The operating profit fell 19 percent to CNY 13.501 billion, pulled down by the consolidation of Ele.me and Cainiao networks, investments in digital media and entertainment and elsewhere, and an increase in expenses. The adjusted EBITDA was up 7 percent to CNY 26.710 billion. Finally, the net profit attributable to

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Categories: Internet
Companies: Alibaba / Mail.ru / MegaFon
Countries: China
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