Alibaba's results improve ahead of IPO

By Dow Jones

Alibaba's gross merchandise volume, or total sales across its online and mobile platforms, jumped to 501 billion yuan in the quarter, up 17 per cent from the previous quarter, and 45 per cent from the same period a year earlier. By contrast, Amazon. com, the U. S. online retailer, saw about US$100 billion in total merchandise sales last year, according to Forrester Research.

Mobile merchandise sales conducted on its sites nearly quadrupled to 164 billion yuan (US$26. 65 billion). "They are highlighting their strong mobile results and dominating… market share as smartphones play a bigger role in e-commerce in China than the U. S. ," said Brendan Ahern, managing director at KraneShares, which sponsors exchange-traded funds focused on China, including the US$108 million KraneShares CSI China Internet ETF.

Alibaba's mobile user base-a key point of emphasis in the ever-evolving e-commerce industry-continued to grow, with mobile monthly active users rising to 188 million for the fiscal first quarter ended June 30, an increase of 25 million from the prior quarter. Mobile accounted for 32. 8 per cent of gross merchandise volume, up from 27. 4 per cent at the end of the prior period and 12 per cent a year earlier.

Total company revenue jumped 46 per cent to 15. 77 billion yuan from a year earlier, while revenue derived from mobile users, which comes primarily from advertising, surged to 2. 5 billion yuan.

Read more here: Business Spectator

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>