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Revenue on Alibaba surpasses Chinese experts' expectations and achieved 61%
13:00 - 05/05/2018
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Information / Baghdad ...
Alibaba is forecast to increase its business growth after beating analysts' expectations of fourth-quarter results with revenue of 61.9 billion RMB ($ 9.9 billion), up 61 percent year-on-year, exceeding expectations of 59.6 billion Renminbi analysts at Standard & Poor's Market Global Intelligence, however, net income for the quarter fell to 6.6 billion RMB (1.1 billion US dollars) from 9.9 billion RMB in the previous year due to increased investment activity.
Alibaba won 24.51 yuan per share for the full fiscal year 2018, with total revenues of RMB 250.3 billion and 58% annual growth.
The company expects the interest rate to be kept in the coming fiscal year. "We expect total revenue to grow above 60 percent, reflecting our confidence in our core business as well as positive momentum in new companies," said Maggie Wu, financial analyst for Alibaba Group.
The company said its annual base for active users rose by 37 million to 552 million, with the number of active users per month 617 million users, an increase of 37 million.
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