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Alibaba just had a terrific quarter

The Chinese e-commerce giant reported a 59% rise in quarterly revenue, despite a slowing economy in the country, reports Reuters. Alibaba‘s total revenue jumped to $4.8 billion with mobile revenue increasing a whopping 119% to $2.6 billion. Speaking about the latter figure, Alibaba’s chief financial officer Maggie Wu said, “We passed an important milestone this … Continue reading “Alibaba just had a terrific quarter”

The Chinese e-commerce giant reported a 59% rise in quarterly revenue, despite a slowing economy in the country, reports Reuters. Alibaba‘s total revenue jumped to $4.8 billion with mobile revenue increasing a whopping 119% to $2.6 billion. Speaking about the latter figure, Alibaba’s chief financial officer Maggie Wu said, “We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time.”

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About the author

Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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