Mobile Sales Lift Alibaba Profit Nearly Threefold, Ahead of I.P.O. - NYTimes.com
The Chinese e-commerce behemoth disclosed on Wednesday that its profit nearly tripled in the quarter that ended June 30, to $2 billion. Its sales climbed 46 percent, to $2.5 billion.
In short, it is part eBay, part Amazon.com and part PayPal, with a hunger to invest in yet more up-and-coming industries.
Nearly a third of Alibaba’s gross merchandise volume, or the value of goods sold on Alibaba’s marketplaces, comes from mobile transactions, compared with just 12 percent a year ago. And the number of mobile monthly active users rose 15 percent compared with those in the period a year earlier, to 188 million.