×
319
Fashion Jobs
MAHLE
Asst. Manager- Production
Permanent · Greater Noida
POLYCAB
Area Sales Manager - Switches & Switchgear - Ahmedabad
Permanent · Ahmedabad
MEDCIS PATHLABS INDIA PVT LTD
Medcis Path Labs is Hiring For Pathology Area Sales Manager-Chennai
Permanent · Chennai
TIME TECHNOPLAST
Area Sales Manager
Permanent · Andheri
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
By
Reuters
Published
Jan 24, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba posts 54 percent rise in third-quarter revenue, helped by shopping event

By
Reuters
Published
Jan 24, 2017

Alibaba Group Holding Ltd on Tuesday posted a 54 percent rise in third-quarter revenue, beating analyst estimates, helped by higher sales during its Single's Day shopping event and increased earnings in its cloud and digital media ventures.

The company said it would be raising its 2017 full-year guidance for revenue growth from 48 percent to 54 percent.

   


Alibaba is seeking new revenue streams with a series of data, cloud, artificial intelligence and logistics projects as China's e-commerce market begins to show signs of saturation.

Earlier this month, it submitted a $2.6 billion bid to privatize Chinese department store operator Intime Retail Group Co Ltd, saying it intended to use data to digitize offline shopping.

In recent months, executives including Chairman Jack Ma have identified Alibaba as a data company, downplaying the strategic role of e-commerce in its future.

In a statement on Tuesday chief executive Daniel Zhang said they will invest in "big data and innovation to provide a seamless online and offline experience for nearly half a billion mobile monthly active users."

Revenue from Alibaba's core e-commerce business made up 87 percent of total revenue in the three months to Dec. 31, down from 92 percent in the same period a year prior.

Alibaba said overall third-quarter revenue hit 53.2 billion yuan ($7.76 billion) versus an average analyst forecast of 50.1 billion yuan according to Thomson Reuters I/B/E/S.

Net income attributable to the company's shareholders grew 43 percent to $2.57 billion, or $1 per share.

Revenue from Alibaba's core e-commerce business grew 45 percent, up from 41 percent in the previous quarter. Revenue rose 273 percent to 4,063 million yuan at its digital and entertainment business, and 115 percent to 1,764 million yuan in its cloud business.

Alibaba has been growing its international operations, opening data centers in a number of countries.

In the United States, Ma met then president-elect Donald Trump earlier this month and promised to add a million small U.S. businesses to Alibaba platforms over the five years.

Yet weeks earlier, Alibaba was forced to limit damage to its image after its Taobao shopping website was returned to a U.S. blacklist of sites peddling counterfeit goods. Meanwhile, U.S. regulators are probing Alibaba's accounting practices.

 

 

 

 

© Thomson Reuters 2023 All rights reserved.