Hangzhou, 17th August: Last week, China’s largest e-commerce company, the Alibaba Group, announced its results for the quarter ended 30th June 2017. The company recorded revenues of US$7.4 billion, up 56% over same period last year. Net income jumped 96% year-on-year, reaching US$2.1 billion. Diluted earnings per share in the quarter were RMB 5.65 (US$0.83).
About 86% of Alibaba’s total revenues were generated from its core e-commerce business amounting to US$6.3 billion. Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, grew by 30% to US$242 million; while the international B2B business, primarily from Alibaba.com, generated revenues of US$237 million, a year-on-year 12% increase. In total, B2B revenues for the quarter accounted for just 6.5% of overall revenues.