Alibaba's Revenue Surges, Fueled by Consumer Demand

Judith Bessette
Agosto 17, 2017

Hong Kong - Alibaba Group Holding's quarterly revenue beat analysts' estimates, powered by Chinese consumers' thirst for cheaper and higher quality goods online.

Overall revenues in the quarter rose 56 per cent to 50.2 billion yuan, beating the United States dollars 7.2 billion average of analyst estimates compiled by Bloomberg. Revenue was up 56.1% on-year to 50.18 billion yuan, driven by China commerce retail business, global commerce retail business and Alibaba Cloud.

Alibaba's revenue rose 56 percent to 50.18 billion yuan ($7.52 billion) for the three months ended June 30, compared with the analysts' average estimate of 47.7 billion yuan, according to Thomson Reuters I/B/E/S. The increase in revenue was due to robust growth of customer management revenue, as well as growth in commission revenue.

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In the cloud business, revenue grew 96 per cent in the quarter to 2.4 billion yuan, with total paying customers breaking the 1 million mark for the first time, up from 577,000 a year earlier.

Alibaba's shares rose 1.1 per cent on Wednesday in NY trading before earnings were announced, rising to a record US$159.50, giving the company US$408.5 billion in market capitalisation as Asia's most valuable company. The company turned its focus to the offline market since 2015, investing more than US$8 billion in brick-and-mortar retailers such as in the Chinese electronics chain Suning, department store chain Intime Retail Group and supermarket chains Lianhua and Sanjiang.

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