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

2015-10-27 13:45:00| Telecompaper Headlines

(Telecompaper) 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 a 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. 

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