This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36211049
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Alibaba sees profit jump 39% as e-commerce sales grow | Alibaba sees profit jump 39% as e-commerce sales grow |
| (35 minutes later) | |
| The world's biggest e-commerce company Alibaba said fourth-quarter revenue rose 39%, thanks to a rise in sales. | The world's biggest e-commerce company Alibaba said fourth-quarter revenue rose 39%, thanks to a rise in sales. |
| Revenue was 24.2bn yuan (£2.56bn, $3.7bn) in the three months to March, up from 17.4bn yuan last year. | Revenue was 24.2bn yuan (£2.56bn, $3.7bn) in the three months to March, up from 17.4bn yuan last year. |
| The total value of goods bought and sold on its platforms in China were 24% higher at 742bn yuan. | The total value of goods bought and sold on its platforms in China were 24% higher at 742bn yuan. |
| The Chinese firm, which handles more transactions than Amazon and eBay combined, is expanding by buying other companies. | The Chinese firm, which handles more transactions than Amazon and eBay combined, is expanding by buying other companies. |
| Despite the strong rise in sales, the company has struggled to reach the growth levels it recorded before it became a public company two years ago. | Despite the strong rise in sales, the company has struggled to reach the growth levels it recorded before it became a public company two years ago. |
| It faces strong competition from local rival websites like Baidu, Tencent and JD.com. | It faces strong competition from local rival websites like Baidu, Tencent and JD.com. |
| Shares have also lost more than a third of their value since the company held its record initial public offering in 2014. | Shares have also lost more than a third of their value since the company held its record initial public offering in 2014. |
| Spending spree | Spending spree |
| The company's original business was Alibaba.com, set up by the company's colourful founder, Jack Ma, in 1999. It helps to connect exporters in China (and other countries) with companies in over 190 countries around the world. | |
| The business now includes entertainment services, including China's version of YouTube, Youku Tudou, as well as payment systems and cloud computing and logistics services. | |
| Increasingly, Mr Ma is looking to counter the company's reliance on Chinese consumers, with the firm now looking to get up to half of its sales from abroad. | |
| Among recent deals to expand was the purchase of South East Asia e-commerce start-up Lazada and Hong Kong's well-respected English language, the South China Morning Post. | |
| Another area of potential growth investors are excited about is its payment platform Alipay. | Another area of potential growth investors are excited about is its payment platform Alipay. |
| Alipay is operated by affiliate Zhejiang Ant Small & Micro Financial Services Group, also known as Ant Financial. | Alipay is operated by affiliate Zhejiang Ant Small & Micro Financial Services Group, also known as Ant Financial. |
| Mr Ma controls Ant, which is China's biggest online financial services firm, and is said to be worth around $60bn following its latest fundraising round. | Mr Ma controls Ant, which is China's biggest online financial services firm, and is said to be worth around $60bn following its latest fundraising round. |