Hangzhou, 1st February: Last week, the Alibaba Group, the largest e-commerce company in China, announced its results for the quarter ended 31st December 2017. The company reported total revenues of US$13 billion – up 56% year-on-year. The group’s net income recorded 25% growth, amounting to US$3.6 billion.
Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, grew by 27% to US$296 million. The company’s international B2B business, primarily operating through Alibaba.com, generated revenues of US$256 million, a year-on-year increase of just 7.2%. In total, Alibaba’s B2B revenues for the quarter only accounted for 4.3% of the Group’s overall revenues.