Summary The revenue of Alibaba Group Holding for the quarter was 53,248 million Chinese yuan
WEB DESK (Dunya News) – The revenue of Alibaba Group Holding for the quarter ended December 31, 2016 was recorded 53,248 million Chinese yuan (7,669 million dollars).
The stats reveal that the company undergoes an increase of 54 percent as compared to quarter ended December 2015.
Sources at the company revealed that this increase was mainly stimulated by the vigorous revenue growth of its China commerce retail business and also the consolidation of newly acquired businesses such as Youku Tudou and Lazada.
It has also been estimated that for the fiscal year 2017, Alibaba expects revenue to increase 53 percent year-over-year.
"Our robust December quarter demonstrates the strength of the Chinese consumer and Alibaba’s ability to create value across our vast ecosystem," said Daniel Zhang, CEO of Alibaba Group in a statement.
He went on to say, “The 11.11 Shopping Festival featured Alibaba at its best, integrating commerce, entertainment and social engagement, all happening globally at record scale. We are driving the age of New Retail, which leverages big data and innovation to provide a seamless online and offline experience for nearly half a billion mobile monthly active users.”
