Tag: Alibaba

Alibaba beats revenue expectations on cloud boost

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services. A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June 18, 2018. REUTERS/Lai Seng…

Alibaba sets ‘Singles’ Day’ record with $32B of sales in one day

By Bloomberg Sat., Nov. 11, 2017 Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza generated a record 168.2-billion yuan ($ 32 billion) in sales, as the company’s investment overseas and effort to link traditional retailers with the internet paid off. The annual frenzy posted a 39-per-cent increase in sales, exceeding Citigroup Inc. estimates and defying…