Alibaba revenue beats
expectations with strong e-commerce, media growth
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[November 02, 2016]
BEIJING (Reuters) - Chinese
e-commerce firm Alibaba Group Holding Ltd on Wednesday
reported a 55 percent rise in second-quarter revenue,
beating analyst estimates, on the back of core online
sales and strong media and entertainment growth. |
![](../images/110216PICS/busine35.jpg)
A logo of Alibaba Group is pictured at its headquarters
in Hangzhou, Zhejiang province, China, October 14, 2015.
REUTERS/Stringer/File photo
|
Revenue reached 34.3 billion yuan ($5.07 billion) in the three
months to Sept. 30, compared with the 33.9 billion yuan average
of 24 analyst estimates surveyed by Thomson Reuters.
Net income attributable to shareholders fell to 2.97 yuan per
share, or 0.45 cents, a 67 percent drop from 8.87 yuan per share
in the year-earlier quarter.
($1 = 6.7600 Chinese yuan renminbi)
(The story was refiled to correct the first paragraph to say
results reported on Wednesday, not Thursday)
(Reporting by Catherine Cadell, editing by Louise Heavens)
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