REUTERS - Chinese e-commerce company Alibaba Group Holding Ltd reported a better-than-expected 54 percent rise in third-quarter revenue, helped mainly by higher sales during its Single's Day shopping event.
Alibaba's revenue was 53.25 billion yuan ($7.67 billion) for the three months ended Dec. 31, compared with analysts' average estimate of 50.10 billion yuan, according to Thomson Reuters I/B/E/S.
Revenue from Alibaba's core e-commerce business increased 45 percent, more than the 41 percent jump in the previous quarter.
Net income attributable to the company's shareholders increased 43 percent to $2.57 billion, or $1 per share.
(Reporting by Supantha Mukherjee in Bengaluru and Catherine Cadell in Beijing; Editing by Savio D'Souza)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app