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Alibaba Revenue Beats On Strength In E-Commerce, Cloud Businesses

Published on Aug 23 2018 1:35 PM in Retail tagged: E-Commerce / profits / Alibaba Group Holding Limited / Paywall

Alibaba Revenue Beats On Strength In E-Commerce, Cloud Businesses

Alibaba Group Holding Ltd, the world's biggest online retailer, topped first-quarter revenue estimates on Thursday, driven by growth in its core e-commerce business.

Alibaba's US-listed shares rose about 3% in premarket trade.

The company's revenue rose 61% to 80.9 billion yuan (€10.2 billion) in the April-June period, compared with the average analyst estimate of 80.7 billion yuan (€10.1 billion), according to Thomson Reuters I/B/E/S.

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