Alibaba’s Getting More Revenue Outside of E-Commerce: ChartBy
Alibaba Group Holding Ltd. broke out revenue from other segments of its business for the first time in its latest earnings report, following an investigation by the U.S. Securities and Exchange Commission. The percentage of revenue from activities excluding its core e-commerce jumped to 15 percent from 8 percent a year earlier. CEO Jack Ma’s diversification strategy is starting to pay off, as Alibaba’s revenue accelerated at the fastest pace since its IPO. Ma has spent billions of dollars buying video websites Youku Tudou and web browser UCWeb and pushed into cloud computing to generate new growth.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Puerto Rico Faces Hurricane Maria After Irma’s $1 Billion Damage
- The World’s Biggest Wealth Fund Hits $1 Trillion
- Finland’s Welfare State Has a Massive Baby Problem
- Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed
- Toys ‘R’ Us Collapses Into Bankruptcy Thanks to Crushing Debt