Alibaba Revenues Surge 61% on Online Shopping​

Chinese e-commerce giant Alibaba has beaten market expectations with a huge jump in quarterly revenues fuelled by online shopping. Revenues for the three months to September rose 61% on the same period a year earlier, to 55.1bn yuan ($8.3bn; £6.4bn).

It also raised its revenue predictions for the full-year forecast. Alibaba is expanding from its core online businesses to investments in supermarkets and stores. "We had an outstanding quarter," Alibaba chief executive Daniel Zhang said in a statement.

"We are seeing the early results from our efforts to integrate online and offline with our new retail strategy". For the July to September quarter, income from operations surged 83% from a year earlier, to 16.58bn yuan. Alibaba, started by billionaire Jack Ma, is the dominant online retailer in China through its Tmall and Taobao shopping platforms.

Comments

Post a Comment

Popular posts from this blog

Ekiti anti-cultism law: Students, youths stage solidarity rally for Fayose ON November 21, 2017 7:47 P

Image
…Commend him for okaying death penalty for student cultists …as Fayose charges them to wage war against cultists, expose their activities on their campuses Excited students of tertiary institutions in Ekiti State and other youths yesterday shut down Ado-Ekiti, capital of the state, to rally support for Governor Ayodele Fayose for having the courage to sign into Law on Monday,a bill handing out death sentence to students found guilty of being involved in cultism on campus. Students of tertiary institutions in Ekiti State demonstrating in Ado Ekiti today in support of the new anti cultism law in the state. Governor Fayose had, in reaction to recent massacre of two students of the Ekiti State University, (EKSU), sponsored a bill for death penalty to student cultists found in the state. Staging a rally to identify with the governor and to publicly declare their support for the Law, students in the tertiary institutions in the state which include Ekiti State University, College of Ed
Read more

FEC approves N1.5bn for advertising

The Federal Executive Council ( FEC ) on Wednesday approved N1.5 billion for advertising campaign for nine months in radio, television, online and newspapers. The Minister of Finance, Kemi Adeosun, briefed State House correspondents at the end of FEC meeting in Abuja. She was with the Minister of Information, Lai Mohammed and Minister of Water Resources, Suleiman Adamu, at the briefing. She said: “I presented a memo on the voluntary Asset Declaration Bill for approval of N1.5b to cover advertising campaign for nine months, for radio, television, online and newspapers including center spread.” The minister said she also briefed FEC, chaired by Vice President Yemi Osinbajo, on the progress made by the government under the tax amnesty. She added: “And it has been very well received. We have people who are ready to declare and pay. We sent out over 500 letters under the first batch, but there are thousands of Nigerians being targeted but the first 500 letters have gone out. “We have
Read more

Professor dismissed after claims of sexual assaults

A university professor has been dismissed after being accused of carrying out sexual and physical assaults over a 12-year period. Police Scotland is investigating claims made about Kevin O'Gorman's conduct in Glasgow and Edinburgh since 2005. It comes after Heriot-Watt University received a number of complaints from staff about the former management and business history academic. The institution carried out its own internal investigation before dismissing him and referring the matter to police. A Heriot-Watt University spokeswoman said: "We can confirm that following formal complaints made by staff, the university has carried out an internal investigation. "This has resulted in a member of university staff being dismissed by the university. "The matter has been referred to the police and the university is cooperating fully with the police investigation." The spokesman continued: "The university has acted promptly to respond to the complaints and
Read more