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Alibaba revenue growth improves to 51% in Q4, outlook cautious for new year

2019-05-15 17:00:00| Telecompaper Headlines

(Telecompaper) Alibaba's growth accelerated in the company's fiscal fourth quarter to March, showing little impact from the slowing Chinese economy. Sales were up 51 percent year-on-year to CNY 93.5 billion (USD 13.9 billion). Its core e-commerce business grew 54 percent to CNY 78.9 billion, while cloud computing was up 76 percent to CNY 7.7 billion. The net profit more than tripled, to CNY 23.4 billion from CNY 6.6 billion, thanks to valuation gains on investments. 

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