Alibaba sales rose 56 per cent in the last three months of 2017, with revenues hitting $13.2bn.
The results reinforce the position of Alibaba as one of the world's most valuable companies, with the share price nearly doubling in value last year, and along with Amazon’s results show the impact of online retailing.
However, there may be signs that the e-commerce market in China is reaching a peak, and Alibaba is actively seeking to diversify into cloud computing and offline retail. The company has also taken a stake in payments affiliate Ant Financial.
Rupal Karia, MD, commercial sector at Fujitsu UK and Ireland added: “Alibaba has demonstrated a solid final quarter, but what’s interesting is that even with its strong online sales which are its bread and butter, the e-commerce giant isn’t being complacent.”
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