Next Up for Alibaba: The Giant 'Singles Day' Sales

Merchandise is prepared for Singles' Day online sales on Nov. 5, 2014 in Wenzhou, Zhejiang province, China Photograph by ChinaFotoPress via Getty Images

So far, Alibaba is doing a good job living up to the hype that surrounded its record-setting initial public offering. The Chinese e-commerce company yesterday, Nov. 4, reported its first earnings numbers since its IPO raised a record $25 billion in September, and Alibaba’s sales for the quarter increased 54 percent, to 16.8 billion yuan. Although higher costs for integration of newly acquired businesses and other marketing expenses helped drive its earnings down 39 percent, to 3 billion yuan, that result was still better than many analysts had expected.

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