Friday, July 19, 2013

Alibaba’s revenue up 71% in Q1

News this week: According to Yahoo’s latest regulatory filing, China’s largest e-commerce company, Alibaba Group, recorded revenue of US$1.38 billion in the first quarter ended March 2013 – up 71% over the US$806 million in Q1 2012. Net income during the period was US$669 million, an impressive jump of 204% from the US$220 million recorded in 2012.

The company reported first quarter income from operations of US$709 million, compared to the US$213 million recorded last year.

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 in 2014.

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.

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