Alibaba Earnings Triple, Revenue Pops As IPO Looms

By | August 27, 2014

Scalper1 News

Alibaba Group Holding’s profit jumped in the first quarter as advertisers boosted spending on the Tmall and Taobao Chinese e-commerce platforms ahead of its initial public offering. Net income almost tripled to $1.99 billion, or 84 cents a share, in the three months ended June, according to a filing with the Securities and Exchange Commission. Revenue rose 45% in local currency to the equivalent of $2.15 billion. Alibaba, China’s biggest Scalper1 News

Scalper1 News