- Chinese shop giant Alibaba has increased its turnover in recent months by more than half. There are good things were done mainly with cloud services and consumer sales via mobile devices, the company announced Wednesday.
The sales increase by 55 percent to 34 billion yuan (4.5 billion euro), was more than analysts' average charge. The profit of 5.26 yuan per share was better than expected. Net profit reached 7 billion yuan from 22.7 billion yuan a year earlier it was significantly lower, but that was a one-time windfall last year.
The growth of online shopping space gives Alibaba to invest in cloud services. In this way, the company hopes to become less dependent on its core business. Investments in data centers are now declining Chinese economic growth, according to CEO Jack Ma easier to recover than, say, online streaming services for consumers.