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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Wednesday, August 12, 2015

Alibaba Sees Sales Slowdown

Alibaba, China's leading digital commerce broker, reported a 36% year-on-year rise in revenues to 20.25 billion Chinese yuan (3.27 billion US dollars) for the quarter ending June 30 (excluding the impact of its suspended online lottery business and the transfer of a loan business to Ant Financial). That represents a marked slowdown on the 45% growth it achieved in the year to March 31.

Alibaba said the gross merchandise value (GMV) transacted on its China retail marketplaces in the quarter ended June 30, 2015 was 673 billion yuan (109 billion dollars), an increase of 34% year-on-year.

 Daniel Zhang, CEO of Alibaba Group, said: “We are excited about our top strategic priorities, including internationalization, winning in mobile, expanding our ecosystem from cities to villages, and investing in core technologies that will propel our cloud computing business.” source: Alibaba statement
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