Alibaba Revenue Jumps On Strong China Demand
Chinese e-commerce giant Alibaba Group Holdings Inc’s quarterly revenue jumped 46.3 percent to $2.54 billion due to a rise in domestic sales. Net income attributable to ordinary shareholders nearly tripled to $1.99 billion, or 84 cents per share, for the first quarter ended June 30. Chairman Jack Yun Ma owned 8.8 percent ordinary shares and Softbank Corp had a 34.1 percent stake, as of June 30, said, The company — expected to go public as early as next month.
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