Hangzhou, 7th
May: According to Yahoo’s latest
regulatory filing, China’s largest e-commerce company, Alibaba
Group, recorded revenue of US$1.84 billion in the fourth quarter of 2012 –
up 80% over same period in 2011. Net income during the period was US$642.2
million, an impressive jump of 171% from the US$236.9 million recorded in Q4
2011.
Alibaba recently changed its financial calendar to end in
December from September previously. The company’s revenue for the full year
ending September 2012 was US$4.1 billion, up 78% year-on-year, while net profit
was US$484.5 million – up 81% compared with 2011.
Yahoo currently holds a stake of approximately 24% in
Alibaba Group. Alibaba completed the buyback of 20% of shares from Yahoo for
US$7.6 billion in September 2012. According to financial industry analysts, an
Alibaba Group IPO is expected sometime this year or next.
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