Alibaba’s sales for FY2018 were up by 58 per cent over FY2017, coming it at RMB250,266m – equating to US $39,898m.
CEO Daniel Zhang said: “Alibaba Group had an excellent quarter and fiscal year, driven by robust growth in our core commerce business and investments we have made over the past several years in longer-term growth initiatives. During the past year, we also doubled down on technology development, cloud computing, logistics, digital entertainment and local services so that we are in a position to capture consumption growth in China and other emerging markets.”
The business also stated that it expects 60 per cent revenue growth for FY 2019.
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