Alibaba’s quarterly revenue up 54%, net profit doubles

Fri, Aug 18 2017, 06:28 PM

China’s top e-commerce firm Alibaba’s revenue increased by 54% year-on-year to $7.4 billion in the three months ended June 2017, while its net income attributable to ordinary shareholders doubled to $2.2 billion in the same period. Driven by strong online sales, the company is said to have beaten analyst estimates.