Alibaba Q1 revenue rises

CNC
Added On May 10, 2015

Now the latest on some company news.

 

Chinese e-commerce giant Alibaba says its revenue rose 45 percent year-on-year in the first three months in 2015.

 

According to Alibaba , the revenue jumped to 2.81 billion U.S. dollars from 1.93 billion dollars last year.

 

The Chinese retail business contributed 75 percent of Group's total revenue.

 

Mobile growth has been a key driver for the company. Alibaba said mobile active monthly users rose 77 percent during the most recent quarter, while revenue from mobile devices made up 40 percent of its total sales.

 

Net income for the three months ended March 31 fell 49 percent to 463 million dollars, however, for the full year ending March, net income rose 4 percent.

 

Analysts are still optimistic about Alibaba Group's future stock price,saying that the Group was likely to crank up efforts on curbing producing and selling fakes, but would not affect its long-term growth potential, thanks to widening application of the internet and rapid increase of online shoppers.

 

Alibaba also on Thursday named Daniel Zhang, currently the group's chief operating officer, as it's new chief executive officer from May 10.