News this week: China’s leading e-commerce company, Alibaba Group,
recorded strong financial results for the quarter ended 30th June
2014. Revenues jumped 46% year-on-year to US$2.54 billion and the
group’s net income in the
quarter nearly tripled, reaching US$1.99 billion.
The strong result
was, in part, due to gains within the company’s
mobile business. Alibaba accounts for about 80% of China’s online retail sales and the group generated gross merchandise volume of
US$296 billion in the previous 12 months ending 30th June. As of the end of June, Alibaba had 279 million active buyers, a year-on-year 50% increase.
According to media
reports, Alibaba’s IPO roadshow will kick-off next month as the company pitches its shares to institutional
buyers. It is expected Alibaba
will reach a valuation of as high
as US$200 billion when the
company eventually is listed.
This post is excerpted from BSG's weekly e-newsletter
which is part of our subscription research service, BSG Tracker. Visit our website
to find out more about this service. You can also follow us on Twitter
for all the latest updates.
No comments:
Post a Comment