China Daily – Alibaba reports soaring revenue

Alibaba’s bet on big data, AI, and cloud computing is starting to pay big dividends as its growth chugs ever onward.

August 18, 2017

‘The norm of shopping online for everything from daily essentials to big ticket items in China has boosted quarterly sales to all-time high for Alibaba Group Holding Ltd.

The world’s largest e-commerce operator by transaction volume on Thursday reported its revenue jumped by 56 percent to 50.2 billion yuan ($7.4 billion) in the quarter ended June 30 for the fiscal year 2018.

That has beaten an annual revenue guidance frame of 45 percent to 49 percent given by its senior executives in June.’

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