Alibaba increases revenues


Alibaba increases revenues

Chinese online giant Alibaba has increased its quarterly revenue by 42 per cent to the equivalent of £13.47 billion. Most of the growth came from Tmall which enjoyed a 34 per cent uplift in merchandise sales but it also saw sales increase in its food delivery service Ele.me, and in its cloud computing operations. The growth beat analysts’ expectations which had been suppressed due to concerns over US trade war fears.

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